Britain seeking EU deal where benefits outweigh trade-offs, Healey says

Britain Pursues Closer UK-EU Cooperation Where Benefits Exceed Trade-Offs

UK-EU Relations and Economic Cooperation

LONDON, Nov 12 (Reuters) - British finance minister John Healey said on Thursday the government would pursue closer cooperation with the European Union at next week's UK-EU summit in areas where the benefits to businesses and consumers outweighed the costs.

Reducing Red Tape and Supporting Businesses

Asked by the BBC whether efforts to improve post-Brexit ties risked creating fresh uncertainty, Healey said Britain was seeking agreements on areas including food and farming that would reduce red tape, ease costs for businesses and help bring down prices.

Prime Minister's Approach to EU Relations

Prime Minister Andy Burnham has sought to deepen cooperation with the European Union since taking office, arguing Britain should consider a broader reset of ties with the bloc to support economic growth and tackle shared challenges.

Future Relationship and Freedom of Movement

Burnham said last month Britain needed an "honest discussion" about its future relationship with the EU and suggested freedom of movement could be considered as part of a wider package of cooperation.

Evaluating the Brexit Deal

Healey said the Brexit deal agreed 10 years ago under the previous government "just isn't good enough".

"Where we can improve that we will," he told the BBC.

Trade-Offs and Economic Benefits

Pressed on whether closer cooperation would involve trade-offs, Healey said: "The benefits to Britain, to the cost of business, the relief of some of the pressure of prices for consumers outweighs the costs."

"That's the trade-off," he added.

Financial Services: A Distinct Approach

Healey also drew a distinction with financial services, saying Britain would continue to "forge our own way" in the sector.

(Reporting by Sam Tabahriti; Editing by Kate Holton and Paul Sandle)