UK Chancellor of the Exchequer Rachel Reeves will meet CEOs from top insurers in Downing Street on Wednesday, as she seeks to encourage more investment in the City ahead of a tricky budget later this month.
The meeting, whose attendees will include Lloyds of London Chair Charles Roxburgh, Swiss Re AG CEO Andreas Berger and Hiscox Ltd CEO Aki Hussain, will focus on “opportunities for more investment in the London market” and Reeves will highlight recent “cuts to financial red tape,” according to a statement from the Treasury.
Reeves’ engagement with insurers comes just weeks before a crunch budget on Nov. 26, where she’s expected to deliver a package of tax hikes and spending cuts to stabilize Britain’s public finances. Reeves, who has faced criticism over the impact of tax rises at her last budget on UK business, is keen to stress her ongoing efforts to spur the British economy ahead of the budget, and her talks with insurers signal growth is her “top priority,” the Treasury said.
Other attendees at Wednesday’s meeting in 11 Downing Street will include Allianz UK CEO Colm Homes, Beazley Plc CEO Adrian Cox, and Jason Storah, Aviva’s CEO of UK & Ireland General Insurance.
Photograph: UK Chancellor of Exchequer Rachel Reeves; photo credit: Andy Rain/EPA/Bloomberg
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