Nigel Farage branded Rachel Reeves "hopelessly out of date" over her push for closer EU relations. The Reform UK leader hit out at the Chancellor ahead of her major speech calling for greater alignment with Brussels.

Speaking at a Reform press conference this morning, Mr Farage said: "Both the Prime Minister and the Chancellor are hopelessly out of date. They're following a narrative that was in vogue over a decade ago. The world has changed.

"Quite how you help the British economy by aligning more closely with a group of other economies, some of whom are doing even worse than we are, I just don't know. And the thought that aligning on rules and regulations, harmonising on these things, is good for a productive economy shows the total ignorance this Labour government has."

The Reform UK leader added: "None of them have ever worked in business. If they had they'd know actually it's competition, it's different products and prices, that's what makes an economy, that's what gives consumers better prices, that's what brings more businesses and competition into a market, and they don't understand it.

"Sadly it's very easy for them to align because the Conservative government despite saying get Brexit done did not actually get on and do any of those things.

"If you want to think about economies and what model works, when the global financial crisis of 2008 happened the American economy was exactly equal to the GDP of the Eurozone. And here we are 17 and a half years on and America's GDP is double that of the Eurozone, that statistic alone is absolutely mind-blowing."

It comes as Ms Reeves set out her plan for deeper ties with the EU as she gave the Mais lecture in the City of London.

She said: "In this changing world, Britain is not powerless. We can shape our own future. Our method is stability, investment and reform - through an active and strategic state.

"Today, I am making three big choices on the greatest growth opportunities for Britain in the decade to come: growth in every part of Britain, AI and innovation, and a deeper relationship with the EU.

"Our plan is clear. To build for growth, to champion innovation, and to make Britain the place where the industries of the future are created."