Fresh doubt has been cast over Keir Starmer’s plan to rev up the economy after a new report revealed the devastating cost of Britain’s membership of the EU.
Reform’s Robert Jenrick blasts the report as yet another sign this Government is “out of ideas”.
It comes as the Prime Minister seeks to “reset” relations with the bloc a decade after the Brexit referendum.
The researchers arrived at this conclusion after crunching the data on the UK’s official economic growth from the post-war period to the UK’s exit from the EU on December 31, 2020.
It shows the UK’s average annual growth halved from the moment of entry into what was then the Common Market (EEC), through the period of the Customs Union and then the Single Market, to the point of exit.
These figures shown below are adjusted for inflation and are therefore shown in real terms.
The details of the UK’s average GDP growth
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BREXIT FACTS4EU
Reacting to the report, Reform MP for Newark and the party’s Treasury Spokesman, Robert Jenrick, said: “The idea that Starmer’s EU reset is going to bring back jobs and leave people with more money in their pocket is laughable. This Government is out of ideas and is now trying to dig up failed policies from the past.
“Starmer should start fixing the mess he made, beginning by scrapping his ridiculous plan to hike fuel duty.”
Former Conservative Minister Sir John Redwood said: “The Government says the EU reset will boost growth by being closer to the EU. Experience shows the opposite is true.
“When we joined the Customs Union, our growth rate slumped. When they completed the Single Market, it fell again. The last thing the UK needs is more EU laws and taxes to cripple business.”
Dame Emily Thornberry was the Shadow Foreign Secretary under Jeremy Corbyn
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PADespite the risks to sovereignty and Britain’s economy, the Government is pressing ahead with closer ties.
On Wednesday, a report was published by the Labour-led Commons Foreign Affairs Select Committee entitled “The UK-EU reset: rebuilding a strategic partnership in uncertain times”.
The Select Committee is chaired by Dame Emily Thornberry MP, who had previously been Sir Keir’s Shadow Secretary of State for International Trade, and before that, Shadow Foreign Secretary during Jeremy Corbyn’s leadership.
It concluded: “Our inquiry has highlighted shortcomings in how the Government has formulated its EU policy and conducted the negotiations to date.
“[These are] a lack of transparency about UK objectives and priorities, which appear to be shifting and changing constantly; a haphazard approach to consultation; and, most importantly, a lack of an overall vision for the new Strategic Partnership.
“The Government draws some of its priorities and objectives for the ‘reset’ of the relationship with the EU from the Labour Party manifesto, while others have only emerged since the 2024 General Election.”
Sir John Redwood issued the warning against the deal
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On Monday, March 9 2026 the DEFRA Secretary of State, Emma Reynolds, told the House that negotiations for the SPS foodstuffs deal were underway.
She said: “Negotiations are expected to conclude in the coming months, and we are aiming for businesses to be ready for, and benefit from, the deal from mid-2027.”
Reacting to this, Sir John Redwood said: “EU policies are toxic for the UK. The fishing policy steals our fish and has destroyed most of our trawler fleet.
“The Common Agriculture Policy slimmed our dairy industry by restricting quota, cut our beef herds by regulations and grubbed up our orchards with grants.
“Their energy policy and carbon taxes are closing our energy using factories. Their car policy will shut all our petrol and diesel car plants by 2030.
“Their trade policy gave us a huge trade deficit and their re-set will boost UK imports from the EU by more than exports to it. EU policies hit hard the things we did export and favour EU exports to us.”