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(Issued Sunday 26 October 2025)
- First go to by a UK Chancellor to the Gulf in six years will give attention to commerce and funding alternatives that profit British companies and dealing folks.
- Stronger worldwide partnerships a cornerstone of a rising economic system and better residing requirements, as outlined in authorities’s Plan for Change.
Deals that drive development and create good jobs is a precedence for the UK-Gulf partnership, Rachel Reeves has mentioned as she leads one of many largest enterprise delegation to the area in years at the moment (26 October).
The Chancellor begins a landmark two-day go to to Saudi Arabia on Monday, as the federal government steps up efforts to deepen ties with the area and galvanise Gulf funding.
Reeves would be the first Chancellor to go to the Gulf in six years, arriving in Riyadh for the Future Investment Initiative (FII) – often called ‘Davos in the Desert’ – the place she is predicted to satisfy with senior Saudi royals, US administration figures and world CEOs.
Chancellor of the Exchequer, Rachel Reeves mentioned:
Our primary precedence is development, so I’m taking Britain’s provide – of stability, regulatory agility and world-class experience – on to one of many world’s most necessary commerce and funding hubs, making that case in our nationwide curiosity.
After our landmark offers with the US, EU and India, we’re decided to construct on that momentum by going additional and quicker on partnerships that create good jobs, increase enterprise and convey funding into communities throughout the UK – from the North East to the Oxford-Cambridge hall.
The Chancellor is about to make use of keynote addresses on the Fortune Global Forum on Monday and FII on Tuesday to champion the UK as a secure funding vacation spot at a time of worldwide uncertainty. She will level to the federal government’s ironclad dedication to its sturdy fiscal guidelines, a contemporary Industrial Strategy targeted on key sectors of the long run like AI, life sciences and monetary companies, and backing of key tasks to unleash development just like the National Wealth Fund and growth at Heathrow – which the Saudi Public Investment Fund acquired a 15% stake in final yr.
A key precedence for the go to will likely be accelerating progress on a commerce take care of the GCC to spice up development and ship larger wages throughout the UK, with the Chancellor additionally anticipated to satisfy with opposites from Qatar, Bahrain and Kuwait. A take care of the Gulf is predicted to extend commerce between each nations by 16%, add £1.6 billion to UK GDP each yr, and contribute a further £600 million to UK employees’ annual wages in the long run.
Reeves has been clear that securing such commerce offers is necessary for reversing the harm brought on by decline of the previous – together with Brexit, austerity and the mini-budget – and placing more cash within the pockets of working folks via development alternatives for enterprise.
She is predicted to set out an ambition to work constructively in the direction of this on either side in her conversations with Gulf counterparts, whereas being sincere over areas of divergence and cultural variations.
Another precedence will likely be two-way funding between the UK and Saudi Arabia, with a serious bundle of bulletins set to be made this week.
Minister for Investment Lord Stockwood mentioned:
I’m proud to be travelling with an excellent delegation of UK companies, whose presence displays the UK’s energy as a worldwide hub for innovation and experience.
By deepening our financial ties with the area, alongside our ongoing commerce talks with the GCC, we’ll open new doorways for British exporters, entice high-value funding, and gas development within the UK.
The go to comes at a second of celebration of rising UK-Saudi financial ties.
The Chancellor earlier this month launched new one-stop assist service to make UK extra enticing to world traders and create jobs and alternatives for working folks throughout the UK.
The Great Futures Summit in London final month marked over £4.1 billion in offers which are creating greater than 4,100 UK jobs prior to now 18 months, whereas over 1,600 UK corporations now have a presence in Saudi Arabia.
As the Chancellor and the UK delegation journey in a single path, Riyadh Air’s first ever flight has landed within the different – with its Riyadh-London service having lifted off at the moment. The route will broaden tourism and enterprise hyperlinks between the 2 nations. The airline additionally ordered 25 Airbus A350 plane in June, that includes UK-manufactured wings and Rolls-Royce engines – demonstrating concrete advantages of the UK-Saudi partnership for British manufacturing.
After the US, the UK is now projected by the International Monetary Fund to be the quickest rising G7 economic system. In Riyadh, the Chancellor will likely be seeking to construct on the success of final week’s Regional Investment Summit, the place it was confirmed that just about a thousand jobs are going to be created throughout the UK off the again of over £10 billion in investments being introduced.
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