Britain should have access to the EU’s rearmament fund before the end of the year but “wounds of Brexit” mean some member states want it to be limited, the bloc’s foreign affairs chief has said.

Kaja Kallas told Sky News’ political editor Beth Rigby that the “technical details” of Security Action for Europe (SAFE) still need to be sorted out.

SAFE is a €150bn (£126bn) fund to provide loans to EU nations and other participants to bolster their defences.

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As part of Sir Keir Starmer’s new reset deal with the EU, a new defence partnership was struck that will allow the UK to access it.

Asked when this might be, Ms Kallas said: “The SAFE instrument has just been finalised between the institutions but it also needs approval from the European Council. And when that is done, we also move on with the implementation of that, and that is in the coming months.”

Asked about reports that some member states think there should be a limit on what the UK can access, she said: “ Of course these discussions are there. We have the wounds from Brexit very clearly.

“I mean you wanted to exit the European Union and then there are many voices who say that you shouldn’t have the same benefits from the European instruments that the European Union countries have.”

According to The Times, France is pushing to freeze the UK out of 85% of the fund.

Asked if Britain’s access should be higher, Ms Kallas said her personal view is that given the current climate “we should do both. We should invest more in European industry. But we should also cooperate with our outside partners like the UK”.

She added that the EU hasn’t had discussions in terms of percentage, because the fund is “down to the capabilities”.

“That is, I think, more important than numbers,” she said.

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Speaking to the BBC, Chancellor Rachel Reeves said that the UK was in a “better place than any country in the world” on trade.

She said that under Labour, Britain has “the first deal and the best deal so far with the US, we’ve got the best deal with the EU for any country outside the EU, and we’ve got the best trade agreement with India”.

“Not only are these important in their own right,” she added, “but it also shows that Britain now is the place for investment and business, because we’ve got preferential deals with the biggest economies around the world.”

The UK government has said accessing SAFE will support thousands of British jobs.

Defence was one of the many areas that has been agreed as part of the new UK and the EU trade deal struck by Sir Keir Starmer – five years after Brexit kicked in.

A key part of the deal involves giving European fishing boats a further 12 years of access to British waters.

In return, there will be increased access to EU eGates for British passport holders in Europe, no health certificates every time pets travel to Europe and the removal of red tape from most UK food and drink imports and exports.