During a meeting of Group of Seven finance ministers in Stresa, Italy, European Union’s economy commissioner, Paolo Gentiloni, expressed his hope for a closer relationship with a future UK government. Gentiloni stated that while they had a good agreement with the existing government, they would be very happy to have even closer relations with a new government in the UK.
The possibility of a Labour Party win in the upcoming UK election is high. Rishi Sunak’s Conservative Party is struggling in the polls and there is a chance that Keir Starmer-led Labour Party will win power. While Sunak has improved UK’s relationship with the EU by reaching agreements on trade and science programs, Labour has promised to further improve ties if it wins power. However, Sunak recently rejected Brussels’ proposal to facilitate young people’s movement between the UK and EU for work and study.
David Lammy, who could be a potential foreign secretary under a Labour government, mentioned plans to negotiate the post-Brexit trade agreement in 2025. While Labour would be open to discussions to enhance cooperation with the EU, including the EU’s youth mobility offer, there would be no return to the bloc’s single-market freedom of movement rules. Keir Starmer has also expressed intentions to negotiate a new security pact with the EU and seek a better deal next year if Labour wins the election. The prospect of a Labour victory could potentially lead to more collaboration between the UK and European Union.