The Chancellor will seek to further strengthen UK-US economic ties and stress the importance of standing together with allies ‘at times of instability across the globe’
Chancellor Jeremy Hunt is set to champion the UK’s economic prospects, declaring that the economy “is on the up” during his visit to the International Monetary Fund (IMF) spring meetings in the US.
Mr Hunt aims to bolster UK-US economic relations and emphasize the significance of unity with allies amid global instability. He will take off for New York on Tuesday and then proceed to Washington on Wednesday to participate in the IMF event for two days.
He plans to engage with business magnates from Bloomberg, Comcast, and Blackrock to showcase Britain’s financial services and creative sectors. Before his departure, the Chancellor remarked: “At times of instability across the globe, we are reminded that we are stronger when we stand together. The US is our most important strategic ally and we are both at the forefront of keeping the world safe.”
“Our economic relationship sees one trillion dollars (£800 billion) invested in one another’s countries and I will be looking to deepen it further during my time in New York.”
While in Washington, Mr. Hunt will reassert the importance of adhering to the Government’s economic strategy and underline the strides being made, according to the Treasury. Recent official figures have sparked optimism about the UK’s recovery from recession, with an estimated 0.1% increase in gross domestic product in February.
The Chancellor expressed that the UK’s “improving position” would enable more robust cooperation with allies such as Ukraine and Israel. He will cite Britain’s efforts to shield Israel against Iran’s unprecedented drone and missile assault, with the UK advocating for restraint in Tel Aviv’s reaction to the attack. Furthermore, he will emphasise the UK’s continued support for Ukraine and its sustained pressure on Moscow through sanctions.
Mr Hunt is expected to advocate for unified efforts in areas such as artificial intelligence, global economic safety, and supply chain resilience during meetings with members of the G7 and G20 and finance ministers from Australia, Canada, New Zealand, and the US.
He will also propose adjustments to the international financial system and highlight British aid extended to developing nations. Ther Chancellor added: “The UK’s resilient economy is on the up, and it is from this improving position that we can be the best partner possible to our friends around the world including standing steadfast with Ukraine in its fight against President Putin and standing up for Israel’s security.”
