Shadow business secretary says trying to rejoin single market or customs union would cause ‘more difficulties’

Labour would rather have stability in the UK’s relationship with the Europe than try to seek accelerated economic growth by rejoining the EU’s single market or customs union, the party’s shadow business secretary has said.

Addressing the British Chambers of Commerce (BCC) conference on Thursday, Jonathan Reynolds acknowledged that Brexit had been “very difficult for businesses” because it erected trade barriers, but said reopening the debate would be worse.