Rachel Reeves is out of ideas... she should start by fixing the mess she's made

Ms Reeves will use a major finance lecture to identify a reset of UK-EU relations as one of the three "biggest opportunities for economic growth" in Britain, alongside Al and regional boosts.

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Chancellor will call for deeper relationship with the EU to drive growth

But Sir Mel Stride hit out: "It's no secret that Reeves and Starmer have wanted to row back on Brexit since day one — and we can expect to hear more detail on Labour's plan to drag us closer to the EU.

"Labour are desperate to blame anyone but themselves for their economic failures. Under increasing pressure having mismanaged the economy, Reeves would rather point the finger at Brexit than accept their poor choices have been a disaster for our economy."

Ms Reeves is expected to use her Mais Lecture to pitch a vision for closer ties with the bloc, weeks after she argued that this would be the "biggest prize" economically.