The Chancellor will use the visit to Riyadh to try to make progress on a trade deal with the Gulf Co-operation Council (GCC). Ms Reeves, the first chancellor to visit the Gulf in six years, will attend the Future Investment Initiative (FII) and meet senior Saudi royals, US administration figures and global business chiefs. Chancellor Rachel Reeves will push the case for foreign investment in the UK (Peter Byrne/PA)A series of announcements on investment between the UK and Saudi Arabia are expected over the coming days. Ms Reeves will speak at the Fortune Global Forum on Monday and FII – nicknamed Davos in the Desert – on Tuesday to persuade business leaders that the UK is a stable investment destination. With the prospect of being forced to use tax hikes or spending cuts in the Budget to meet her commitment to balancing day-to-day spending with tax receipts rather than extra borrowing, Ms Reeves will stress her “ironclad” commitment to the fiscal rules.

Source: The Times October 27, 2025 03:21 UTC