Osborne Says Britain Should Rejoin EU Customs Union

George Osborne has urged the UK to rejoin the EU customs union, arguing that Britain’s economy has worsened since Brexit and that closer trade ties with Europe would help drive recovery.

Speaking to The Independent, the former Tory chancellor said the post-referendum period has damaged growth, adding that the economy is poorer than it would have been without leaving the EU. Osborne, who was later dismissed as chancellor by Theresa May and previously served in David Cameron’s cabinet at the time of the 2016 vote, said rebuilding links with the EU remains important.

‘Fallen Off A Cliff’ Since Brexit

Osborne said Brexit has had a significant negative effect on the British economy, describing it as a sharp downturn. He pointed to the need for the government to focus on restoring trading relationships with the EU as a route to stabilising performance.

He also acknowledged that restarting UK–EU arrangements a decade after the referendum would not be straightforward. However, he argued that tightening ties with Europe could still improve the wider outlook for the economy.

Rejoining The customs union

Osborne said he would rejoin the EU customs union, presenting it as the quickest option to reverse the damage to trade. He argued that the issue was not addressed during the Brexit debate, saying that leaving the customs union was not widely anticipated and that it has had a “devastating” impact on trade.

He linked this to what he described as Brexiteers’ expectations during the campaign. Osborne said the opposition to staying in the customs union was based on claims about major trade deals with the United States, but that he now views those promises as unrealistic.

Trade, Investment And Free Movement

Osborne said Britain cannot address its growth challenge without considering how to revive trade with the European continent and attract investment. He also suggested that a customs union return would be easier to sell politically than a full return to the single market.

In that context, he referenced Labour’s Andy Burnham, saying he did not see why Burnham would not support rejoining the customs union. Osborne argued that, unlike rejoining the single market, coming back to the customs union would not require accepting the EU’s free movement of people, which he said is a difficult issue to persuade people about in Britain.

Join the discussion?

14 September 2026