LONDON — Britain should be part of any “Made in Europe” club giving preference to European goods, the U.K.’s finance chief has said.
Rachel Reeves said she was in favor of the plan — floated by France last week as a way to boost European industry — but that it should be “as broad a club as possible.”
The proposal would see minimum levels of European-made content mandated in public contracts.
“I actually support the idea of some sort of ‘Made in Europe’ or ‘Made in countries that share each other’s values,’” she told an event hosted by the LSE European Institute and Bruegel think tanks on Wednesday evening.
“I think that is sensible and precautionary in the times that we live in. But I think if we can make as broad a club as possible, and I don’t think it makes sense to exclude the U.K. or Norway, or indeed Canada, from schemes that are trying to achieve something which I think is in all of our interests, which is to create greater security and resilience.”
The idea has divided European capitals, with Germany, Nordic countries, and Italy warning that it could impact investment.
But French President Emmanuel Macron said the strategy of “European preference” would help make Europe a stronger economic power.
The debate will be at the heart of EU leaders’ discussions during an informal summit in Belgium on Thursday.