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UK Will Not Rejoin Single Market or Customs Union, Says Finance Minister

Published March 17, 2026, 17:11
UK Will Not Rejoin Single Market or Customs Union, Says Finance Minister

British Finance Minister Rachel Reeves has stated that the United Kingdom will not rejoin the EU single market or customs union, nor will it reinstate free movement. However, she emphasized the importance of a close relationship with the EU and the need for cooperation on global challenges. Reeves stressed that the UK should choose to follow EU rules in most business sectors to boost trade and growth, but added that regulatory autonomy should be the exception, not the rule. She also expressed Britain's willingness to consider participation in EU initiatives, such as the provision of loans to Ukraine.