UK Chancellor Rachel Reeves defends China visit amid rising borrowing costs, political criticism
Date
1/12/2025 3:18:39 AM
(MENAFN) At a time when rising government borrowing costs threaten to strain UK public finances, Chancellor Rachel Reeves has justified her choice to visit China in order to strengthen commercial connections.
She claims that a long-term partnership with China is "squarely in our national interest" and stated on Saturday that the UK would benefit £600 million over the next five years from the agreements made in Beijing.
The UK borrowing prices reaching a 16-year high and the pound's decline have overshadowed her trip, and the Conservatives have accused Reeves of having "fled to China."
Reeves stated she would not change her economic ambitions when visiting the Beijing location of UK bike manufacturer Brompton.
As part of initiatives to expand the UK economy and improve living standards, Reeves met with Chinese Vice-Premier He Lifeng in Beijing to discuss trade and investment potential.
The UK Treasury announced after the discussions that both nations had decided to work together more closely on trade, financial services, investment, and climate-related matters.
MENAFN12012025000045016953ID1109080434
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.