<\/p>\n
Rachel Reeves heads to Paris for G7 talks (pic: DB Media Services)<\/p>\n
Rachel Reeves will this week become the first chancellor to visit Paris since Brexit as she steps up the Labour government\u2019s bid to rebuild ties with the EU.<\/p>\n
The meeting with G7 finance ministers and central bankers is billed as strengthening the UK\u2019s economic and energy security in response to the conflict in the Middle East.<\/p>\n
However, Ms Reeves also sees it as an opportunity to reassert her ambition to ensure the UK is at the heart of Europe, deepening ties and driving practical progress to reduce trade barriers. <\/p>\n
Her trip comes as former Health Secretary Wes Streeting declared his intention to fight for the Labour leadership and eventually take Britain back into the EU.<\/p>\n
The immediate concern is responding to the various conflicts affecting the economy. Ms Reeves will press for coordinated action to limit inflation and supply chain pressures, and restore freedom of navigation through the Strait of Hormuz.<\/p>\n
She will also lead discussions on support for Ukraine, reiterating the UK\u2019s backing for Ukraine and its IMF programme. Ms Reeves will underline the need to maintain pressure on Russia , including on energy revenues, and agree credible, coordinated approaches to Ukraine\u2019s ongoing financing needs with partners.<\/p>\n
Later this week she is expected to announce further support with the cost of living in response to the war in Iran, which threatens to push up prices for UK households.<\/p>\n
The Treasury is also set to unveil a sweeping overhaul of the ring-fencing regime that was set up after the 2008 financial crash, separaring retail and investment banking.<\/p>\n
It is understood Ms Reeves has signed off plans that will release billions of pounds of additional lending capacity at five high street giants.<\/p>\n
\t #Reeves #steps #ties #war #impact #support #Daily #Business<\/p>\n","protected":false},"excerpt":{"rendered":"
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