Rachel Reeves will hold talks in Riyadh on Monday in a dash to push through a Gulf trade deal, as the UK chancellor tries to fill a gaping fiscal hole in next month’s Budget with growth-boosting measures.
Reeves is seeking to convince official forecasters that trade accords — including one with Gulf countries — along with new planning reforms being rushed through parliament can boost the economy and reduce the need for painful tax rises on November 26 by billions of pounds.
The chancellor claims that trade deals, notably the one agreed in principle with the EU in May and pacts with India and the US, should be included in the Office for Budget Responsibility’s growth forecasts.
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