Chancellor Rachel Reeves will position the United Kingdom as a “beacon of stability” during high-level meetings with fellow finance ministers at the G20 summit in Durban, South Africa. Set to take place on Thursday and Friday, the discussions are part of a broader push by the new government to promote economic growth and strengthen global partnerships.
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In addition to engaging with G20 finance ministers, Ms Reeves will meet senior figures from major South African businesses in Johannesburg. The Treasury confirmed she will use the opportunity to emphasise the UK’s pro-growth agenda and its openness to “elite global talent”. The Chancellor stated that Britain must lead by example in a changing world, adding that her government’s strategy is laying the groundwork for a more resilient and prosperous economy.
The summit comes at a challenging moment for Ms Reeves. Although the economy expanded by 0.7% in the first quarter of 2025, it has since contracted amid a mix of domestic pressures and global instability. Inflation reached an 18-month high in June, while concerns persist over US trade policy and the ongoing consequences of the war in Ukraine. In response, Ms Reeves plans to highlight new trade and industrial policies, increased infrastructure investment, and recently announced regulatory reforms for the financial services sector.
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The Chancellor will also reaffirm the UK’s commitment to multilateral cooperation, stating that forums such as the G20 are vital for tackling global challenges. “By doubling down on our strengths in financial services, infrastructure and trade, we are creating the conditions for growth,” she said, “helping to deliver well-paid jobs and put more money in people’s pockets – even amid global uncertainty.”
