Labour has been accused of “bankrolling” the education of more EU students than British ones, following a decision to rejoin the bloc’s Erasmus student exchange scheme. Shadow Cabinet Office Minister Mike Wood took aim at Labour’s agreement with the EU, which could cost £8.75billion.

The Labour Government has said that 100,000 students will benefit from the new Erasmus scheme. But Tories have highlighted that this includes both EU and UK students – and under the previous Erasmus scheme, twice as many EU students were funded than UK students.

Mike Wood, Shadow Cabinet Office Minister, said the Erasmus scheme was “drastically more expensive” than a new post-Brexit scheme called Turing, introduced by the last Conservative government. And he said Turing had benefited more British students. Mr Wood warned: “Labour have agreed an inflated bill that will soar even higher over time, bankrolling the education of more EU students than British ones.”

“At a time when families are struggling with the cost of living, this represents extremely poor value for British taxpayers. As ever, when Labour negotiate, Britain loses.”

The Erasmus scheme was axed under the Boris Johnson’s tenure as more EU students were travelling to the UK than vice versa.

Instead, the Conservative Government introduced the Turing student placement scheme.

Labour’s latest deal, the Erasmus+ scheme, forms part of Sir Keir’s reset with the EU.

Skills Minister Jacqui Smith said: “From learning a language to building confidence and work experience, Erasmus+ offers transformative opportunities to enhance young people’s life chances.

“Generations of people have benefitted from the opportunities working and studying abroad offers, and I’m so pleased that today’s students, apprentices, educators and young people can experience all Europe has to offer.”

At the general election, Labour promised not to seek a customs union, to rejoin the single market or establish freedom of movement as part of closer ties with the bloc.

The Daily Express Give Us A Proper Brexit crusade has called for Britain to leave the European Convention on Human Rights, slash red tape for businesses and enforce a 12-mile exclusion zone around the UK for British vessels only.