Sir Keir Starmer has said there should be a conversation about Britain's history as he faces demands to sign up to slavery reparations.
The Prime Minister acknowledged that the issue of reparations "matters hugely" to many countries but insisted it was time to "look forward".
He made the remarks at a meeting of Commonwealth leaders at Samoa, at which Caribbean countries are seeking to bring up reparation demands.
Sir Keir has rebuffed calls to apologise for Britain's role in the slave trade, but pointed out Sir Tony Blair had already done so whilst prime minister.
Asked about the demands for reparations, he said: "I think our generation can say the slave trade and practice was abhorrent.
"We can't change our history, but we should certainly talk about our history."
He added: "Of course, that matters hugely to many of the countries that are represented here. The question then is, where do we go from there.
"My posture is that we should be forward looking, that we should look at what are today's challenges in this group of countries represented here.
"It's very clear to me that the major challenges are resilience in the face of climate change and also the question of how to improve trade between our countries."
His remarks came after Rachel Reeves, the Chancellor, warned that the UK could not afford to pay out up to £19 trillion in slavery reparations.
Countries from the Caribbean are attempting to get a reference to reparations including in the final communique for the Commonwealth summit.
Sir Keir was also asked about demands that he make a formal apology for slavery, which could then open the door to negotiations on financial reparations.
No 10 has said it will not offer such an apology, but the Prime Minister said: "Of course, an apology has already been made in relation to the slave trade.
"That's not surprising. It's what we would expect."
He appeared to be referring to remarks that Sir Tony made in March 2007, when he told Ghana's then president "we are sorry" for slavery.
Sir Keir suggested the UK would seek to help the nations who are demanding slavery reparations by "unlocking" more money for them to deal with climate change.
He said Britain could play a leading role in securing extra cash for Caribbean and Pacific island nations in particular from global institutions.
"That isn't our money, it's unlocking international money," he said.