- Chancellor arrives in Washington D.C.
today to fly flag for UK as beacon of stability at the IMF
Annual Meetings
- Reeves will champion UK interests to international partners
and investors and solicit foreign investment from top global
firms
- Chancellor also expected to urge partners to stand firm on
Ukraine and tighten economic vise on Russia
International businesses and investors can count on Britain as a
beacon of stability, Chancellor will say today as she arrives
in Washington DC for the International Monetary Fund and World
Bank Annual Meetings.
The Chancellor will champion Britain's economic approach,
highlighting that the UK's strong fiscal rules are the bedrock
for growth and investment. She'll point UK attractiveness for
foreign business and investors, evidenced by the creation of a
National Wealth Fund on track to catalyse £70bn in private
investment, as well as the government's commitment to a £120bn
uplift in capital spending across infrastructure, energy, digital
transformation and research planned for 2025-28.
Chancellor of the Exchequer said:
“Our Plan for Change is delivering national renewal built on
the rock of economic stability – the foundation for more
security, more respect and more opportunity for every part of the
UK.
“In Washington I will showcase Britain's commitment to fiscal
responsibility – while creating the conditions to boost
productivity, attract investment and secure our place as a strong
and credible partner in a stable global economy.”
Reeves will call for a stable and balanced global economic order
and reforms to benefit British businesses, investors and working
people as well as urging partners to work hand in hand with the
UK to continue mounting pressure on Russia.
During the visit, the Chancellor will attend a Ukraine
roundtable, urging partners to work in lockstep with UK action to
continue mounting pressure on Russia's access to energy revenues.
To date, western sanctions have deprived Russia of over $450bn in
lost assets and revenues, equivalent to two more years of funding
for Russia's invasion. They are putting pressure on the Russian
system, increasing costs and creating delays – even Putin has
admitted that sanctions are causing a “colossal number of
difficulties”.
The Chancellor will also meet business leaders from top US firms
to help drive growth that will deliver for people back home.
Speaking directly to financial services firms she will highlight
an expanding UK offer, and how the Government is cutting red tape
and ripping up barriers to investment.
She will promote the UK as a stable, open, trading economy with a
world-leading financial centre, innovative firms and millions of
skilled workers.
