UK PM Sunak: Britain needs to stand up to competitors 'not with grand rhetoric but with robust pragmatism'

Anil Panchal FXStreet

British Prime Minister Rishi Sunak plans to promise on Monday to maintain or increase military aid to Ukraine next year, and to confront international competitors "not with grand rhetoric but with robust pragmatism", reported Reuters. The news is based on extracts released by UK PM Sunak’s office, per Reuters, ahead of his first major foreign policy speech, which he plans to deliver on Monday in London's financial district.

Key quotes

Under my leadership we won't choose the status quo. We will do things differently.

Priorities would be "freedom, openness and the rule of law".

Sunak indicated no change with the policy pursued by Johnson and Truss.

We will stand with Ukraine for as long as it takes. We will maintain or increase our military aid next year. And we will provide new support for air defence.

It means delivering a stronger economy at home - because it is the foundation of our strength abroad. And it means standing up to our competitors, not with grand rhetoric but with robust pragmatism.

Sunak has previously described China as a ‘systemic challenge’ and "the single biggest state threat to our economic security.

Also read: GBP/USD seeks support around 1.2060 amid quiet market mood, US ADP payrolls eyed

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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