Reeves pledges wealth fund and 650,000 'quality' jobs

Rachel Reeves will highlight Labour’s plans to boost investment by breaking down EU trade barriers and set up a national wealth fund as she kicks off a week of campaigning on the economy.

- SOPHIE WINGATE

The shadow chancellor suggested she could revise parts of Boris Johnson’s 2020 Brexit deal, including seeking closer alignment with EU rules in the chemicals and veterinary sectors, better touring rights for UK artists, and greater mutual recognition of qualifications for financial services workers.

She said this was not an “exclusive” list, telling The Financial Times: “We would look to improve our trading relationship with Europe. I don’t think anyone voted Leave because they were not happy that chemicals regulations were the same across Europe.”

She emphasised the benefits of a mutual recognition deal for professional qualifications, saying: “The majority of people in the City have not regarded Brexit as being a great opportunity for their business.”

Her remarks appear to suggest that Labour would go further than previously thought in pushing for improved trade terms with the bloc, having so far been hesitant to discuss Brexit during the election campaign.

The Labour frontbencher will meet members of her British infrastructure council this morning to discuss attracting foreign investors who had been deterred by political instability in the UK.