Rachel Reeves has pushed for an “ambitious” youth migration deal with the EU in a bid to improve the outlook of the public finances ahead of the autumn Budget.

The Chancellor told the Times an exchange scheme for young workers would be “good for the economy, good for growth and good for business”.

The UK agreed to work towards a “youth experience visa” with the EU in May this year but the specifics of the scheme are still being negotiated.

Reeves also called for the Office of Budget Responsibility (OBR) to factor the potential economic impact of such a scheme into its forecasts ahead of the Budget, which she hopes will reduce the need for spending cuts or tax rises.

The proposal has previously been criticised by the Conservatives and Reform UK, who have said it amounts to a partial return to freedom of movement, which ended when the UK left the EU.

Speaking to the Times ahead of the Labour Party’s conference in Liverpool this week, Reeves said the youth visas would be time-limited, with those aged 18 to 30 allowed to stay for two years and given no right to remain.

The chancellor declined to specify how many visas could be issued annually under the scheme.

The UK already has similar schemes with 11 countries including Australia, New Zealand and Japan, with people able to stay for up to three years depending on where they apply from.

Under those agreements, the UK issued just over 24,000 youth mobility visas in 2024.

The OBR has previously scored UK growth down by 4% due to the original Brexit deal.

The chancellor believes that has set a precedent and that the OBR should include the projected economic upsides of a youth mobility scheme into its upcoming forecast.

Referencing the agreement between London and Brussels earlier this year, Reeves told the Times: “As a result of that reset in May, we think the economy will be stronger. We also want the OBR to score that.”

The OBR will send its first economic forecast to the treasury on Friday, which will include the gap the chancellor will need to make up in her 26 November Budget.

Much is depending on the OBR’s expected downgrade to the underlying long-term performance of the economy, or productivity. The gap could be £20 or £30 billion per year.

In response, the Chancellor has stressed a series of measures aimed to help the economy grow faster, including further trade deals.

If accepted by the independent forecasters, the inclusion of the proposed EU youth mobility scheme into its calculations could theoretically limit the extent of any new tax rises.

The OBR has scored policy moves on house building and childcare as helpful to the economy in recent years.

Speculation has been rife that the chancellor will be forced to raise taxes or cut spending in order to fill the fiscal hole, despite Labour’s election promise not to increase income tax, National Insurance or VAT for working people.

Billionaire Elon Musk and Prince Andrew are named in new files released by Congressional Democrats that relate to the late convicted sex offender and financier Jeffrey Epstein.

The files turned over to the House Oversight Committee by the Jeffrey Epstein Estate appear to show that Musk had been invited to Epstein’s island in December 2014.

Separately a manifest for a flight from New Jersey to Florida in May 2000 names Prince Andrew among the passengers.

Musk and Prince Andrew have been approached for comment.

Prince Andrew has previously strenuously denied any wrongdoing. Musk has previously been quoted as saying that Epstein had invited him to the island but he had declined.

The partial records are from the third batch of documents produced by the Jeffrey Epstein Estate. Democrats on the House Oversight Committee say they include phone message logs, copies of flight logs and manifests for aircrafts, copies of financial ledgers and Epstein’s daily schedule.

In addition to Musk and Prince Andrew, the files released publicly also contain the names of other prominent figures including internet entrepreneur Peter Thiel and Steve Bannon, a former advisor to Donald Trump

One line in the records dated 6 December 2014 reads: “Reminder: Elon Musk to island Dec. 6 (is this still happening?)”

A flight manifest records that Prince Andrew was on a flight with Epstein and his associate Ghislaine Maxwell from Teterboro, New Jersey, to West Palm Beach, Florida, on 12 May 2000. Maxwell was convicted in 2021 of conspiring with Epstein to traffic girls for sex.

One heavily redacted ledger records two references of payments for massages for an ‘Andrew’ in February and May 2000. While Palace records, photographs and press reports from the time indicate Prince Andrew had travelled to the US around the time of the dates recorded in the newly released document, it is not clear who the ‘Andrew’ referred to in the ledger is.

On 11 May 2000, Buckingham Palace said on its website that Prince Andrew had flown to New York to attend a reception in New York for the National Society for the Prevention of Cruelty to Children. Andrew returned to the UK on 15 May, a later entry said.

In the files, there is also an entry referring to a planned lunch with Peter Thiel in November 2017.

There is also an entry referring to a planned breakfast with Steve Bannon 17 February 2019.

The files also mention tentative plans for a breakfast party with Microsoft founder Bill Gates in December 2014. In 2022 Gates told the BBC that meeting Jeffrey Epstein had been a “mistake”.

It is not suggested that those mentioned in the files were aware of the alleged criminal activity for which Epstein was later arrested.

Epstein died by suicide in a New York jail cell in August 2019 while awaiting trial on sex trafficking charges.

In 2008, he reached a plea deal with prosecutors after the parents of a 14-year-old girl told police in Florida that Epstein had molested their daughter at his Palm Beach home.

He was arrested again in July 2019 on sex trafficking charges.

Sara Guerrero, a spokesperson for the Democrats on the committee, urged Attorney General Pam Bondi to release more files related to Epstein.

“It should be clear to every American that Jeffrey Epstein was friends with some of the most powerful and wealthiest men in the world. Every new document produced provides new information as we work to bring justice for the survivors and victims,” she said.

Republicans on the committee accused the Democrats of “putting politics over victims” and said they would release the full set of documents soon.