Latest news on the UK economy: Reeves says UK must go ‘further and faster’ in pursuit of economic growth

Islam Faisal
Economics writer

The key message was the Chancellor saying the Government would go “further and faster” in its growth plan.

She said market volatility was a “reflection” of “global economic uncertainty”.

Reeves defended both his trade visit to China and his budget.

She reaffirmed her commitment to her self-imposed budget rules, which could require further planned spending cuts in the coming weeks.

But the chancellor seemed aware that she needed to present a more detailed and compelling growth plan, and with more urgency.

This will now be a key priority next week at the World Economic Forum in Davos, and there will be a speech on growth, ahead of new forecasts from the Office for Budget Responsibility in March. Markets will be looking for details on infrastructure, trade and industry.

Mel Stride appeared via an elaborate Shakespeare analogy to vaguely call on the chancellor to think about her position.

“To go or not to go, that’s a question,” he said. She doesn’t seem to be going anywhere.