Sunday 30 Aug 2026

Chancellor heads to his first G20 and makes 'good growth for all' his top priority

Chancellor John Healey will arrive in Asheville, North Carolina for the G20 Finance Ministers and Central Bank Governors meeting on Sunday [29 August].
He will hold meetings with the Managing Director of the IMF Kristalina Georgieva, and international counterparts including the US, France, Germany, Canada and India, in his first international trip as Chancellor.
The Chancellor is expected to say: “good growth for all rests on fiscal discipline.”
The Chancellor will also speak to the UK economy’s resilience in cutting borrowing and growing the economy despite headwinds from the conflict in the Middle East.
The UK is cutting the deficit by more than any other G7 or G20 economy between 2025 and 2030. 
At the latest remit, gilt issuance this year is £58bn lower than this year compared to last year. This is the largest reduction in borrowing of any G20 country.
The UK had the fastest growth in the G7 in the first half of this year and, excluding the pandemic years, productivity is rising at its fastest rate in a decade.
As Defence Secretary, and previously as a Treasury minister, Healey worked closely with counterparts across the US, Europe and beyond on issues ranging from support for Ukraine to economic security.
Defence finance is also expected to be discussed. With the Chancellor long-believing multilateral mechanisms for defence financing will help reach NATO targets.
These strong existing relationships give him a solid platform to advance the UK's economic interests from day one and support the Government's mission to drive growth, strengthen economic resilience and improve living standards.

Contact Information

HMT Press Office
020 7270 5238
pressoffice@hmtreasury.gov.uk