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French finance minister invites Britain to return to EU

Source: BBC News · AI-assisted rewrite, editorially reviewed

French Finance Minister Roland Lescure
French finance minister Roland Lescure has told British officials they can return to the EU at any time, following comments from UK Prime Minister Andy Burnham suggesting a second Brexit referendum could feature in a future Labour election manifesto.

French finance minister Roland Lescure has invited Britain to return to the European Union, saying it would be welcome at any time.

This comes after UK Prime Minister Andy Burnham indicated that a second Brexit referendum could be included in a future Labour Party election manifesto.

Lescure told the BBC that the decision by British people to leave the bloc was very sad.

He acknowledged that EU membership presents some difficulties but said it helps members better confront challenges facing the world.

Last week, Burnham warned that planned EU rules to help European manufacturers would damage the UK.

The proposals, known as the Made In Europe scheme, aim to protect EU industry from Chinese competitors by prioritising EU companies for public contracts and subsidies.

The EU car industry has called for the UK to be included to prevent disruption to its supply chains.

When asked about the possibility of Britain being excluded from the scheme, Lescure said Britain would be at the negotiating table if it returned.

The interview also covered French domestic issues, including student protests that have swept the country.

More than 500 schools have been fully or partially shut, with hundreds of thousands of people taking to the streets to demand better conditions.

Lescure described it as a tough world for young people and said he understood their anxiety.

He added that his duty as a leader is to listen to them.

It is hard to tell young people there will not be money for them because the government is spending a lot on health and pensions, he said.

In France upcoming budget, he will cut back on health spending and ask retired people to accept a below-inflation rise to their pension next year.

While he said not all French schools were crumbling, he promised further investment in education, adding that if more is needed it will be considered.

Other challenges include France budget deficit and rising borrowing costs.

Lescure acknowledged that France annual public borrowing of over 5 percent of its gross domestic product was alarming and said that is why action is needed now to avoid having to act later.

Asked about the possibility of an intervention from the eurozone central bank, he said his job was to make sure France did not have to go there.

With significant rises in French borrowing costs, especially the premium paid over its eurozone partner Germany, Lescure acknowledged it was more expensive to borrow but said there was no issue with issuing its debt.

He said that his budget will pass a fractious French parliament and there were lots of different ways to ensure that.

Separately, Burnham has said a Brexit referendum is possible in a Labour election manifesto.

He has also warned that new EU industry rules would damage the UK.

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