UK Treasury Minister Says EU Return Is Inevitable, June 03

Lord Spencer Livermore, the UK’s Financial Secretary to the Treasury, told the House of Lords on Monday that the United Kingdom will eventually rejoin the European Union. He called the reversal of Brexit “absolutely” in the nation’s economic interest. The comments fuel debate within Labour circles as senior figures position themselves ahead of a potential leadership race.

Treasury Minister Predicts EU Membership Return

Livermore told peers in the House of Lords that Britain’s return to the EU is “an inevitability.” He said the government’s immediate focus is on the “European reset” to improve economic growth. “Of course the UK will at one point reenter the European Union,” he stated, though he did not provide a timeframe for this shift.

Labour Figures Reignite Brexit Debate

Former health secretary Wes Streeting called the 2016 Brexit vote a “catastrophic mistake” at the Labour Party’s Progress conference last month. He argued Brexit left Britain “less wealthy, less powerful and less in control than at any point before the industrial revolution.” London Mayor Sadiq Khan has also called Brexit the biggest act of economic self-harm any country has done.

Opposition Pushes Back on EU Reset

Conservative leader Kemi Badenoch criticized Labour’s focus on Brexit, arguing the issue was already settled by voters in 2016. The UK formally left the European Union in 2020 after the divisive referendum centred on immigration, NHS funding, and parliamentary sovereignty. Prime Minister Keir Starmer has pledged to rebuild links with the EU and put Britain “at the heart of Europe.”

Leadership Race Fuels EU Debate

Senior Labour figures have reignited the Brexit debate as they jostle for position ahead of a potential leadership contest. Livermore’s comments add fresh fuel to the discussion about Britain’s long-term future in Europe. Rejoining the EU is not official government policy, but the debate signals shifting sentiment within the party about the 2016 decision.

Final Thoughts

Livermore’s remarks signal growing momentum within Labour to reverse Brexit, though no official policy change has been announced. Investors should monitor how this debate shapes UK economic policy and trade relations with Europe over the next 12 months.

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