Streeting has said he will stand in any leadership race to replace British Prime Minister Keir Starmer.
Former British health secretary Wes Streeting has labelled the UK's decision to leave the European Union a "catastrophic mistake" as he launches his bid to become the country's next prime minister.
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Streeting, who quit his Cabinet position earlier this month, has openly called for Keir Starmer to resign as leader, and told reporters on Saturday that he would stand in any leadership race.
Speaking at the Labour Party's Progress conference, Streeting also took aim at Brexit.
"At the core are three big important choices we have to make as a country that can help us regain our sense of progress," he told the audience.
"First, leaving the European Union was a catastrophic mistake," he said. "It's left us less wealthy, less powerful and less in control than at any point before the industrial revolution."
Later in his speech, he called for the UK to rejoin the bloc.
"We need a new special relationship with the EU, because Britain's future lies with Europe, and one day, one day, back in the European Union," he said.
The UK voted to leave the EU in 2016 following a divisive referendum campaign spearheaded by the former Conservative prime minister Boris Johnson, alongside broader support from Nigel Farage, the current leader of the Reform UK party.
The decision to leave has been back under the spotlight in recent months as the UK has looked to move closer to Europe amid uncertainty over its relationship with US President Donald Trump.
Streeting's comments come as Starmer faces increasing pressure following heavy losses for Labour and gains for Reform in last week's local elections.