Chancellor Rishi Sunak will call for “global action” to tackle supply chain problems during his first official visit to the United States.
Mr. Sunak will encourage G20 finance ministers to “work together” to ensure that supply chains are more resilient in the future following struggles to obtain goods around the world during the pandemic due to a shortage of drivers and the accumulation of container ships.
The Chancellor will be in Washington to attend a meeting of the G20 finance ministers and chair the last personal meeting of the G7 finance ministers before the end of the UK presidency.
This is his first visit to the United States since becoming chancellor in February 2020, just a month before the first blockade of COVID, when the grant scheme began.
His journey comes as the UK continues to struggle with a shortage of truck drivers, which is affecting supermarkets and fuel supplies amid warnings this week. shortage of salt spray guides this winter.
Mr Sunak will encourage further support for vulnerable countries that are also struggling with supply chain problems.
Leaving for the United States, Mr Sunak said: “Global cooperation is key to tackling our common challenges as we emerge from the pandemic.
“From global tax reform to global supply chains, we need to work together to seek international solutions for the benefit of our citizens at home.”
He will call on the G7 finance ministers to use the Special Drawing Rights (SDRs), an international reserve asset issued by the International Monetary Fund (IMF).
The G7 and G20 ministers must contribute, he said, to reducing poverty and the IMF’s confidence, which provides zero-interest loans to vulnerable countries in need of financial support.
Mr Sunak is expected to express strong support for the IMF’s new confidence in sustainability and to encourage the G7 and G20 ministers to provide their political and financial support.
Trust will shift new SDR reserves to middle-income, low-income and vulnerable countries to help them address health and climate risks and support green and sustainable economic growth.
The Chancellor will also use the meeting to reiterate the importance of the continued spread of vaccines around the world.
Mr Sunak will also call on finance ministers to coordinate actions and “ambitious” targets for reducing emissions from the G20 in order to reach zero net.
© Sky News 2021