Labour must end this economic masochism and revive UK economy by re-joining EU

The Labour government’s latest policy debacle shows consumers and businesses are paying an ever-increasing price for Keir Starmer’s inexplicable refusal to re-join the EU, the Rejoin EU Party says.

Labour yesterday scraped together the votes needed to get its welfare bill through its second reading in parliament, but only after a massive and costly U-turn.

City analysts said the bill for recent government policy reversals, including on welfare and pensioners’ winter fuel allowances, now stands at more than £7bn, which ministers will have to find by either raising taxes, cutting spending or increasing borrowing.

The Rejoin EU Party believes this unnecessary economic pain could be avoided in one fell swoop if Starmer abandoned his Brexit ‘red lines’ and opened talks with the EU about re-joining its single market and customs union.

Clinging to the discredited result of a referendum nine years ago is inexcusable when the solution to the nation’s economic woes – reversing Brexit and re-joining the EU – is so clear and polls show majority support for it, Rejoin EU says.

John Stevens, Rejoin EU Party deputy leader and economic spokesman, said: “Brexit has blown a hole in the UK public finances of around £40bn a year.

The only way the government can square the circle of meeting rising demand for spending on everything from defence and education to welfare, while generating the level of economic growth needed to meet such demands, is to re-join the EU.

This is the stark truth revealed by the current chaos over the government’s welfare policy.

New party leader Richard Morley said Britain cannot flourish without forging a common bond with other nations such as that offered by EU membership.

“It’s as if we face alone a jungle of terrors; climate breakdown, economic inequality, unaffordable housing, war and mass displacement,” Morley said.

Yet we could easily tackle these threats by working with others also facing them. Eventually the whole world will need to unify if civilisation is to survive into the next century. By re-joining the EU, Britain will be showing not only a fine example of that spirit, but clear evidence of the difficulties experienced during Britain’s solitary journey in the jungle.”