Reeves pitches UK as beacon of stability at G20 summit

upday.com 5 godzin temu

Rachel Reeves will pitch the UK as a "beacon of stability" when she meets fellow finance ministers in South Africa. The Chancellor is set to meet her counterparts at the G20 in Durban on Thursday and Friday as the Government continues to push for economic growth.

As well as talks with finance ministers, the Treasury said Reeves is expected to meet representatives from major South African businesses in Johannesburg. She will set out Britain's stall as pro-growth and open to "elite global talent".

Chancellor faces economic challenges

The G20 meeting comes at a rocky time for the Chancellor. After growing 0.7% in the first three months of 2025, the economy has since shrunk in the face of global and domestic challenges while inflation hit an 18-month high in June.

Meanwhile, global uncertainty persists with the threat of US tariffs and the ongoing impact of the war in Ukraine. Ahead of the trip, Reeves said: "In a changing world, I am determined Britain leads by example as a beacon of stability."

Government promotes growth strategy

Seeking to improve economic ties with the G20, Reeves is expected to talk up the Government's new trade and industrial strategies. She will also highlight investment in infrastructure and plans set out on Tuesday to cut regulation for financial services.

"Our plan for change is delivering the strong foundations needed to drive prosperity for working people at home, while we build a more resilient economy that works in our national interest abroad," she said. The Chancellor added: "By doubling down on our global strengths in financial services, infrastructure and trade, we're creating the conditions for growth that creates the well-paid jobs and puts more money in people's pockets - even in the face of global headwinds."

Support for international cooperation

Reeves is also expected to express her support for multilateral institutions such as the G20 as the best way of meeting global challenges. The meetings represent part of the Government's broader strategy to strengthen international economic relationships whilst addressing domestic economic pressures.

(PA) Note: This article has been edited with the help of Artificial Intelligence.

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