Reeves' growth push after UK market turmoil seeks lifeline in China | politics

Rachel Reeves has welcomed a new era of respectful and consistent future relations with China, as pressure grows on the embattled prime minister to deliver on his government's core promise to boost UK economic growth.

After meeting Chinese Vice Premier He Lifeng in Beijing, Reeves emphasized that Britain's relationship with the world's second-largest economy will be frank and open in areas where we disagree and pragmatic in seeking safe trade and investment opportunities.

The prime minister's three-day visit to China, which ends on Monday, takes on even greater significance after a tumultuous week for financial markets that saw Britain's borrowing costs near a 16-year high on Friday and leaves Reeves at risk of having to raise taxes. . Talk again or spend less.

Politically, either choice would be disastrous for the Prime Minister, who has insisted since his first budget last October that taxes will never be raised significantly again in the short and medium term and that a return to austerity is impossible.

The visit to China comes amid intensive briefings from the Treasury on how to stimulate the economy, with many Labor MPs and business leaders calling for clearer growth plans from the government.

Before leaving for Beijing on Wednesday, Reeves met with the CBI's Rain Newton-Smith, Make UK's Stephen Phipson and Shevaun Haviland of the British Chambers of Commerce to discuss what the government could do.

With British businesses still struggling as a result of Brexit, which replaced open borders with barriers and regulations and led to a decline in trade volumes in key sectors, Reeves said his visit to China could provide up to $1 billion worth of benefits to the British economy. He said he had secured his profits. Enhancing UK financial services companies' access to the Chinese market and various other agreements.

The Treasury said: “Removing barriers restricting exports to China across a range of goods and services will boost UK exports and innovation, particularly in the agri-food sector, which includes pork, wool, poultry and pet food. “It will grow even further,” he said. Britain trades with China and supports new jobs.

British food exports to the EU have fallen by nearly 3 billion a year since Brexit, the trade think tank said last month, with new physical and paper checks at borders complicating trade further.

The Center for Inclusive Trade Policy (CITP) said Britain's food and agricultural exports to the EU fell by an average of more than 16% in the three years since Britain left the single market compared to the three years before it left the EU. . With China concerned about food security for its 1.4 billion people, breaking down barriers to British exporters is seen as a key post-Brexit opportunity.

Reeves took pains to make clear that he had raised human rights and security concerns with China. A group of nine Labor MPs called on Reeves to demand the release of pro-democracy media mogul Jimmy Lai during the first visit by a British prime minister in almost a decade.

The Treasury said Reeves raised the Rai case and other human rights issues, including forced labor. Lai, a British citizen who founded the pro-democracy newspaper Apple Daily, was charged with conspiracy to commit foreign conspiracy in Hong Kong's most important national security trial. He has been in prison since December 2020 and turned 77 in solitary confinement last month. Keir Starmer raised concerns about Rice's health when he met President Xi Jinping last November.

Skip past newsletter promotions

Analysis and opinions on the week's news and culture from top Observer writers

Privacy Policy: Our newsletter may contain information about charities, online advertising and externally funded content. Please see our privacy policy for more details. We use Google reCaptcha to secure our website, which is subject to the Google Privacy Policy and Terms of Service.

After newsletter promotion

Reeves' push for closer economic ties with China and a relationship based on pragmatism also comes amid concerns that Donald Trump's return to the White House will trigger a global trade war. President Trump promised to impose a 20% tariff on imports into the United States and a 60% tariff on Chinese imports. As market uncertainty increased borrowing costs, the Reevess' financial space began to be severely limited.

Ben Zaranko, deputy director of the Institute for Fiscal Studies, said: For now, the prime minister may face a rather unenviable set of choices. This unfortunate predicament is primarily a result of difficult financial inheritance and global economic factors.

But it also reflects a series of government choices and mutually incompatible commitments. Prioritize public services and not implement another round of austerity. No major tax increases, no tax hikes again after the autumn budget, and only one fiscal event per year.

If high interest rates are taking away her so-called free space, something will have to give.

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos