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2025-10-18 02:27:26
In an interview on the sidelines of the International Monetary Fund (IMF) Annual Meetings in Washington, D.C., on Friday, British Chancellor of the Exchequer Reeves reiterated her commitment to the government's own fiscal rules and stressed the need to be candid with the public about the challenges facing the country. She pointed to the Russia-Ukraine conflict, tensions in the Middle East, and the impact of global trade barriers as major current challenges. She said that as Chancellor of the Exchequer, she was determined to be candid with the public about the challenges and would respond in the budget. On November 26, she will announce her second Autumn Budget since becoming Chancellor of the Exchequer. At this time, the UK is facing a weak economy, high prices, and rising government borrowing costs. Reeves did not disclose specific measures in the budget (such as the possibility of a bank tax), but expressed the hope that the UK will remain competitive and allow businesses to "start smoothly, develop and grow smoothly." She said she hopes that the UK will be seen globally as a place to trade, invest, do business, and attract global talent. She also added that the UK's financial regulator must consider economic growth rather than just focusing on risks.
