Healey to ask EU finance ministers to let UK into Made in Europe scheme

Chancellor John Healey is warning the European Union not to lock British industries out of its new protection scheme, according to BBC News. Healey is attending a meeting of EU finance ministers in Dublin to push for UK inclusion in the Made in Europe programme.

Chancellor John Healey is pressing European finance ministers to design the bloc’s new industrial protection scheme in a way that deepens ties with the UK rather than erecting new barriers, Treasury sources have told the BBC. The policy, officially known as the Industrial Accelerator Act, aims to protect EU manufacturing by placing restrictions on goods from outside countries.

There is growing concern within government that the scheme could lock British firms out of vital European supply chains. Former UK trade negotiator Sir Crawford Falconer highlighted that the EU’s original plan would have allowed free trade partners to join, but subsequent proposals recommended limiting membership strictly to EU nations.

If we weren’t able to complete on equal terms, it would put the viability of some of our production facilities at risk.

— Sir Crawford Falconer, Former UK trade negotiator, BBC News

Car manufacturer Nissan previously warned that restricting public support to EU-only assembly would damage competitiveness and disrupt integrated supply chains. Healey intends to use the Dublin meeting to focus heavily on tech firms, defence companies, and manufacturing to ensure nothing holds them back.

• John Healey is meeting EU finance ministers in Dublin.
• The Made in Europe scheme aims to protect EU manufacturing.
• Former negotiator Sir Crawford Falconer warns of risks to production facilities.
• Nissan cautions against restricting public support to EU-only assembly.

The chancellor’s push comes as Treasury sources expect a delayed EU reset summit to take place in November. Healey is also weighing a bid to join the Defence, Security and Resilience Bank as he prepares for upcoming fiscal events.

Original source: Read the full report at BBC News