Liberal Democrat leader Sir Ed Davey outlined plans to rejoin the European Union’s Single Market as part of his party’s economic strategy during the Liberal Democrats’ conference in Brighton. Speaking alongside deputy leader Daisy Cooper and MP Josh Babarinde, Sir Ed argued that renewed participation in the Single Market would stimulate the UK economy sufficiently to enable a £680 annual tax cut for taxpayers.

The proposal marks a significant policy push from the Liberal Democrats to reverse aspects of the country’s post-Brexit economic arrangements. Sir Ed emphasized the benefits of closer economic integration with the EU, suggesting that reaccession to the Single Market would increase trade, investment, and overall economic growth.

However, the plan faced immediate criticism from Conservative MPs. Alex Burghart, a Tory parliamentarian, challenged the party’s claims by pointing out the financial obligations associated with Single Market access. He cautioned that the projected tax reduction overlooks the costs the government would incur to maintain such membership, implying that the policy may not be fiscally viable.

The debate touches on broader questions about the United Kingdom’s post-Brexit economic direction, with the Liberal Democrats advocating for renewed ties with the EU as a path to prosperity, while Conservative voices remain wary of the fiscal impact and sovereignty implications. The speech at Brighton is part of Sir Ed Davey’s wider effort to present the Liberal Democrats as a pro-European alternative ahead of forthcoming elections.