According to Andy Haldane, former Bank of England chief economist, the UK can pursue a trade agreement with the US under President Donald Trump while strengthening ties with the EU.

Haldane emphasizes that the UK could become a 'beacon of stability' amidst global economic volatility.

The new government under Keir Starmer is encouraged to demonstrate that Britain is 'open for business' by negotiating trade deals with both Washington and Brussels.

Haldane suggests that, post-Brexit, the UK now has the flexibility to explore transatlantic trade deals, which was previously not possible.

However, some experts caution that while engaging with Trump's administration, which has expressed an intent to implement high tariffs on imports, might be challenging, it places renewed importance on nurturing relationships within the EU.

Despite these hurdles, Haldane remains optimistic about the UK's economic prospects, citing Britain's perceived stability and Starmer's commitment to fostering investment.

Haldane also comments on Rachel Reeves's budget, defending the need for higher taxes to support public services essential for both individuals and businesses.

As CEO of the Royal Society of Arts think tank, Haldane is launching an 'inclusive growth commission' in the East Midlands, alongside business and political leaders, to design a local growth strategy with a £4bn funding initiative.

This move aims to revitalize the region and attract investments from the UK government and global markets.