Chancellor Rachel Reeves is set to announce a major push for stronger ties with the European Union and rapid adoption of artificial intelligence as part of her economic growth strategy. In a lecture in the City of London, she will outline three key priorities: growth across all regions of Britain, AI and innovation, and a deeper relationship with the EU.
Reeves will pledge to make Britain the fastest adopter of AI in the G7, backed by a £2.5 billion investment in advanced computing. This includes £1 billion for quantum computers and a £500 million 'sovereign AI fund' to support UK companies. She will argue that Britain cannot afford to stand still in a world defined by technological change.
The chancellor's plans come amid a sluggish economic start to the year, with GDP flatlining in January. Reeves will emphasize stability, investment, and reform as the method to shape Britain's future. The government has denied claims from the Conservatives that closer EU ties signal a desire to reverse Brexit.
Shadow chancellor Mel Stride accused Labour of economic mismanagement and seeking to row back on Brexit. However, the government insists its focus is on building growth and championing innovation, with the technologies of the future invented and deployed in Britain.
