UK Chancellor Reeves vows to ‘stand up for British interests’ during key IMF talks

UK Chancellor Rachel Reeves has promised to “stand up for British interests” as she travels to Washington DC for her first spring meetings with the International Monetary Fund, pledging to push for fairer global trade and stronger economic ties.

During her three-day visit, Reeves will meet with fellow G7, G20 and IMF leaders to discuss global instability, rising tariffs, and what the Treasury calls a “Plan for Change” to boost Britain’s growth and security at home.

She will also hold her first face-to-face meeting with US Treasury Secretary Scott Bessent to deepen UK–US economic ties and discuss progress on a new trade agreement.

Reeves said: “The world has changed, and we are in a new era of global trade. I am in no doubt that the imposition of tariffs will have a profound impact on the global economy and the economy at home.

“This changing world is unsettling for families who are worried about the cost of living and businesses concerned about what tariffs will mean for them. But our task as a government is not to be knocked off course or to take rash action which risks undermining people’s security.

“Instead, we must rise to meet the moment and I will always act to defend British interests as part of our Plan for Change.”

Reeves is expected to make the case for removing trade barriers, backing investment, and creating a more secure, stable global economy for working people and businesses alike. 

She will also speak with members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and meet European counterparts to discuss defence spending and coordination on Ukraine.

The visit follows a string of domestic economic announcements, including over £400 million in trade deals with India, a £20bn boost to UK Export Finance, and state support for British Steel, saving 2,700 jobs in Scunthorpe and up to 37,000 in the supply chain.

Other recent measures include a £1,400 pay rise for 3 million workers, free breakfast clubs in primary schools, and new support for British carmakers switching to electric vehicles.

While in Washington, the Chancellor will also meet business leaders to pitch the UK as a top investment destination.

Reforms to planning laws, including changes to the National Planning Policy Framework and the upcoming Planning and Infrastructure Bill, are designed to unlock housing and infrastructure development and cut red tape for investors.

Officials say slashing regulation costs by 25% and backing “builders not blockers” will help deliver 170,000 new homes and drive long-term growth.

Photo: UK Government