PM remarks at business reception: 19 May 2025
Source: gov.uk (2025-05-19)

Prime Minister’s remarks from the business reception in Downing Street.

Good evening, ladies and gentlemen.

Commissioner Sefcovic.

It’s fantastic to welcome you all to mark the strategic partnership that we have agreed today with the EU.

Trade deals are much talked about.

People tried for a long time to get a trade deal with India, and it didn’t happen for eight years. We came along and did that deal with India.

People tried and talked about a deal with the US, we came along and did that deal with the US.

Nobody believed we could do a better deal with the EU, and we’ve just done a better deal with the EU.

I always said, I’m not particularly keen on the performance side of politics. I think it’s the delivery that matters.

And this has happened because of the serious, pragmatic way that we’ve gone around our negotiations, and when I met Ursula and Antonio at the beginning of the exercise, we committed to each other that we wouldn’t do it by megaphone diplomacy.

We would do the hard yards of real diplomacy and negotiation, and that’s the base on which we got this deal today.

And so, in the space of just under two weeks, three trade deals.

That tells you something about serious pragmatism.

It tells you something about our commitment to growth, but it also tells you something about the country, because others only want to do trade deals with businesses and economies that they want to tie themselves to going forward.

It reflects the strength of all those that are represented here and many, many others, because we have dramatically improved our trading ties with the largest economy in the world, the US, the fastest growing economy in the world, India, and the largest trading bloc in the world, the EU.

And that is, as I say, a vote of confidence in this country.

We’re living in a different world. It’s a different era, and notwithstanding that instability, that uncertainty, the decisions that we’ve taken to stabilize the economy and lead the way internationally have made Britain a place that people want to do business with once again.

And I’m really proud to be leading a government and a country where others are telling me that they’re very pleased to see the UK back leading on the world stage, whether it’s defense and security, whether it’s trade or the economy or many of the other global issues that face us.

And to underline that Britain is a place where people want to do business. Once again, I’m delighted that we’re announcing major new European investments into Britain today.

Rheinmetall investing £60 million in Telford.

Knauf Insulation…

Investing £170 million in North Wales.

And NewCold investing £235 million in Corby.

Together, creating hundreds of new jobs across the UK.

We also have news today of great British companies – like Octopus energy – expanding in Europe.

So I want to say a huge thank you to everyone here…

For backing Britain.

And let’s just take a closer look at the deal we’ve struck today.

It gives us unprecedented access to the EU market –

The best of any country outside the EU or EFTA.

All while sticking to our red lines.

It’s good for bills, good for jobs, good for borders…

Good for businesses large and small.

By 2040 it will increase Britain’s GDP by around £9 billion.

Our SPS agreement will make food and agriculture trade cheaper and easier…

Cutting admin costs that can reach thousands for a single lorry…

Opening up EU markets for British food exporters…

Lifting the de facto ban on British burgers, bangers and shellfish…

And bringing down prices for British consumers.

Our new Defence and Security Partnership…

Will strengthen our security…

And open the door to working with the EU’s new defence fund –

Boosting Britain’s defence industry.

By increasing our co-operation on emissions trading…

We’re saving UK businesses…

From having to pay £800 million in EU carbon taxes.

By increasing cooperation on energy…

We’re bringing down bills over the long term,

And boosting our renewables industry in the North Sea.

The deal also protects our steel exports from new EU tariffs,

Saving the industry £25 million each year.

And it puts the fishing industry on a stable footing…

Protecting our access, rights and fishing areas…

With no increase in the amount that EU vessels can catch in our waters.

And our fishing industry will also benefit from that new SPS agreement, slashing costs and red tape.

So this a new deal for a new era…

One that will bring huge benefits to the British people.

And by the way –

For business travellers – and tourists –

We confirmed today…

That you’ll be able be able to use e-Gates in Europe –

Ending those huge queues at passport control.

That really is something to celebrate!

You know, when I became Prime Minister…

Almost a year ago…

I said I would deliver in the national interest.

And I think we’ve shown today, once again –

That I meant it.

So thank for you for your support –

Now let’s build on this progress…

Let’s keep showing that Britain is open for business…

And working with all our partners –

To deliver for the British people.

Thank you all.