Rachel Reeves has vowed to “bang the drum for British business” at the G20 in Brazil during her first international trip as Chancellor.

She will arrive in Rio de Janeiro on Thursday to attend the G20 meeting of finance ministers and central bank governors.

She will press business leaders to “take another look at Britain” and talk about the Government’s plans to boost international investment.

Ms Reeves said: “Over the coming days my message to international leaders is simple: after years of uncertainty and instability, Britain is open for business once again.

“This new Government’s number one mission is to boost economic growth so we can make every part of the country better off. That can only happen by working alongside business from around the world to encourage them to invest in the jobs and industries of the future.

“That is why over the coming two days I will be banging the drum for British business and urging leaders to take another look at us.

“I’m ready to take my seat at the table alongside fellow finance ministers, steering the world economy and representing our national interests on the major issues of our time, including grasping the growth opportunities of the net-zero transition and putting pressure on Russia to end the war in Ukraine.”

Ms Reeves will also champion the importance of having women in leadership roles in the fields of economics and finance by meeting other female leaders at the G20.

The Labour Party has pledged to stimulate economic growth. Since taking office, Ms Reeves has announced measures including changes to the planning system and launching a National Wealth Fund, which aims to attract billions in private sector investment to support UK growth.

Shadow Treasury financial secretary Nigel Huddlestone said: “What businesses need most from their government is an environment that encourages investment, competitiveness and growth.

“But thus far, all we’ve seen from this new Labour government is plans for endless new regulations and union powers, and a programme of continual pitch rolling of new taxes, rather than measures to deliver on this.

“Instead of peddling falsehoods about the economy, the Chancellor should make clear what her plans really are to give businesses the certainty that they need.”

Published: 25/07/2024 by Radio NewsHub