Chinese investment of £600 million in UK ‘a start’, says Cabinet minister
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China committing to putting £600 million in the UK is “a start” and “will lead to future investment”, a Cabinet minister has said. Science Secretary Peter Kyle said the Chancellor has returned with “solid commitments for investment” as the Government commits to “rebuilding the relationship with China”.
Rachel Reeves has been criticised by the Conservatives and Liberal Democrats for going ahead with the planned visit following turbulence on the UK gilt markets. Increases in the Government’s borrowing costs have sparked concern that she will be unable to meet her debt and spending targets, with the Tories saying Ms Reeves had “absented” herself when “bond yields are rocketing up”.
Mr Kyle said the UK has to reset its relationship with Beijing “in a way that delivers for our economy” while keeping “our country safe and resilient”, as China’s actions in Hong Kong and Russia’s invasion of Ukraine have also been raised by opposition parties as barriers to more economic engagement.
He told Sky News’s Sunday Morning With Trevor Phillips: “These are difficult issues to manage. “I think what we have seen, for the Chancellor to go over there, represent Britain on the world stage, come back with solid commitments for investment, but she also managed to raise the human rights issues that I think everybody in this country is concerned about.
