Rachel Reeves stated at The Times CEO Summit that Britain is increasingly seen as a "safe haven" for international investment, highlighting political instability in France and neighbouring European countries as factors enhancing Britain's appeal.
If Labour wins the upcoming election, Reeves pledged to host an international investment summit within 100 days. The aim would be to reassure multinational companies that the UK offers a stable and predictable environment amidst political "turbulence" elsewhere. "In recent years, Britain has sometimes appeared unstable and unsafe for investment," Reeves remarked.
"I want investors to view Britain as a safe haven in a turbulent world, a place where they can invest confidently when other countries are shifting towards populist politics."
Reeves positioned Labour's potential electoral victory as pivotal, potentially making it Europe's most successful centre-left party amid recent setbacks for ruling social democrats in Germany and Spain during the European parliamentary elections.
"I want Britain to be globally recognised as a secure destination for investments, a place where investors can confidently deploy capital, knowing that government and business will collaborate to exploit our nation's significant opportunities," Reeves emphasised.
Looking ahead, Reeves, poised to become Britain's first female chancellor, outlined a growth target of 2% of GDP annually, surpassing the projected 0.7% for the current year and averaging slightly above 1% over the past decade. She stressed the importance of sustained economic growth in improving living standards and funding public services effectively.
