French finance minister Roland Lescure has invited Britain to "come all the way" back to the EU following comments from Prime Minister Andy Burnham, who indicated that a second Brexit referendum could be included in a future Labour election manifesto. Lescure acknowledged that while EU membership presents challenges, it allows member states to better address global issues.
Last week, Burnham stated that the UK should "consider the options" regarding its relationship with the EU, including remaining as is, rejoining the customs union or single market, or fully rejoining the EU. In response to Burnham's remarks, Lescure told the BBC, "British people decided, and that's obviously their 100% right, and if they're willing to come back, they will have to decide. But what I can tell them is: come back, anytime."
Burnham has expressed concerns that new EU regulations aimed at supporting European manufacturers could negatively impact the UK. He highlighted potential disruptions to British industry and supply chains due to the proposed Made In Europe scheme, which prioritizes EU companies for public contracts and subsidies in order to protect them from Chinese competition. Lescure stated, "Come back, and you'll be at the table, and we discuss all these things together."
In addition to discussing Brexit, Lescure addressed domestic issues in France, including ongoing student protests that have led to the partial or full closure of over 500 schools. He empathized with the youth's concerns and acknowledged the challenges of balancing spending on health and pensions with educational needs.
Lescure indicated that the upcoming budget would involve cuts to health spending and a below-inflation increase in pensions for retirees. He also noted the need for further investment in education, stating, "If we need to do more, we'll have to see."
France is currently facing a budget deficit and rising borrowing costs, with Lescure admitting that annual public borrowing exceeding 5% of GDP is "alarming." He emphasized the importance of taking action now to avoid more severe measures in the future. Regarding potential intervention from the eurozone's central bank, he stated that his responsibility is to ensure France does not need to resort to such measures. Despite rising borrowing costs, Lescure expressed confidence in the ability to issue debt, stating that his budget "will pass" through the French parliament.