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UK’s Sunak urges G7 to work together on supply chain difficulties

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British Chancellor of the Exchequer Rishi Sunak impresses as he arrives to attend the Conservative Party Annual Conference in Manchester, UK, October 6, 2021. REUTERS / Toby Melville / Files

LONDON, Oct 13 (Reuters) – British Finance Minister Rishi Sunak said on Wednesday that the Group of Seven rich countries should work more closely together to tackle supply chain disruption that has hampered the economic recovery from the COVID-19 pandemic. .

Sunak is meeting with other finance ministers in Washington this week on the sidelines of the annual meetings of the International Monetary Fund and the World Bank.

“Global cooperation is key to addressing our common challenges as we emerge from the pandemic,” he said in a statement before the meetings.

“From global tax reform to global supply chains, we must work together to seek international solutions for the benefit of our citizens in the country.”

The IMF warned on Tuesday that supply chain bottlenecks, including port delays and shortages of key components such as microchips used in car manufacturing, were delaying recovery and boosting inflationary pressures around the world. Read more

Britain has been hit particularly hard by the growing impact of post-Brexit trade barriers and stricter immigration rules.

Many British petrol stations temporarily ran out of fuel last month and a pan-European rise in natural gas prices has led to a shortage of carbon dioxide used to stun farm animals before slaughter. Read more

Sunak also aims to encourage other rich countries to contribute a portion of their share of the new IMF’s $ 650 billion in domestic currency to poorer nations to improve health care and health care. ‘responding to climate change.

Report by David Milliken Edited by William Schomberg

Our standards: Principles of Trust by Thomson Reuters.

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