Britain’s Economic Plan

Britain will not be “pushed back and forth” by American threats to impose new tariffs, according to the Chancellor. The Chancellor stated that her policies and approach would defend Britain’s national interests.

Defending National Interests

The Chancellor emphasized that Britain is not here to be pushed around and has an economic plan that is the right one for the country. If other countries want to increase trade barriers, that is their decision, but Britain is committed to reducing trade barriers.

Trade Agreements

The Chancellor pointed to the trade and cooperation agreement reached with the US last year as evidence that the UK can do business with the Trump administration. The Chancellor defended the decision not to attend the Davos meeting, stating that there have been no tariffs at the moment and the right approach is to de-escalate and get the best deal for the UK.

Investment and Opportunities

The Chancellor is leading a delegation of ministers and businesses in Davos and claims £1.5bn of new foreign investment has been secured. The Chancellor expressed excitement about the opportunities in the UK, whether in AI or technology, financial services or clean energy.

Responding to Price Increases

The Chancellor defended measures to reduce inflation after a higher than expected increase in December to 3.4%. Inflation was expected to rise slightly, according to the Bank of England’s forecast, and is expected to return to the 2 percent target by late spring and early summer. The Chancellor attributed this to the measures taken in the Budget to save £150 on energy bills as well as freeze rail fares and prescription charges.