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John Healey calls on counterparts to ‘step up’ as he arrives at first G20 summit
Healey said 1.8 billion pounds of July borrowing and 2.9% inflation show Britain needs closer G20 coordination on growth and prices.
- Chancellor John Healey arrived in Asheville, North Carolina for his first G20 summit, urging international allies to "step up international co-operation" to address economic challenges including the Middle East crisis.
- Government borrowing unexpectedly rose by £700 million, or 68.7%, to £1.8 billion last month, while Inflation surged to a four-month high of 2.9% amid fallout from the Iran war.
- Facing fiscal constraints, The Chancellor promised economic plans would be "built on fiscal discipline" and warned the Cabinet they must prepare for spending cuts to finance new pledges.
- Healey scheduled meetings with Treasury Secretary Scott Bessent and Canadian finance minister Francois-Philippe Champagne to discuss defence spending, though he will avoid setting a target date for reaching 3% in the autumn Budget.
- A strong UK-US relationship remains vital for business growth across the Atlantic, following an agreement by Sir Keir Starmer and Canadian Prime Minister Mark Carney to "co-operate closely" on defence funding mechanisms.
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Evening Standard+3 Reposted by 3 other sources
John Healey calls on counterparts to ‘step up’ as he arrives at first G20 summit
The Chancellor urged a need to ‘step up international co-operation’ to tackle a ‘number of challenges’ including the Middle East and energy prices.
·London, United Kingdom
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Healey to discuss defence with G20 counterparts in first meeting as Chancellor
Press Association Political Staff John Healey will discuss defence spending with G20 counterparts and put “good growth for all” at the heart of his message during his first meeting of global finance ministers. The new Chancellor will avoid setting a target date for reaching 3% defence spending in the upcoming autumn Budget and is expected […]
·Wales, United Kingdom
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Total News Sources7
Leaning Left3Leaning Right0Center3Last UpdatedBias Distribution50% Left, 50% Center
Bias Distribution
- 50% of the sources lean Left, 50% of the sources are Center
50% Center
L 50%
C 50%
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