UK economy ‘strong’ and heading for ‘radical change’

She was also expected to say that the UK-US trade relationship must act as a counter to protectionism and authoritarian regimes.

“The UK-US economic partnership is the clearest possible example of why free trade and free markets are not just integral to our growth, but to the freedoms we share,” she was expected to say.

Quoting Reagan, she was expected to say, “Free trade serves the cause of economic prosperity, and it serves the cause of world peace.”

Ahead of her speech, Ms Badenoch said: “Britain is a low-tax, high-talent, innovation nation and I want to show America’s biggest companies that we are ready to be their investment partner of choice.

“The United States is our most important trade, defense and security partner. We share the same values ​​- freedom, free trade and the rule of law.

“Our special relationship means that together we are a force for progress when we face countries that threaten these values.

“Every morning over a million people get up and go to work for British companies in America and over a million do the same for American companies in Britain.”

The number of people employed by US companies in the UK has risen by three-quarters since 1997 to 1.5 million.

The government says US investment is also supporting its smoothing agenda, with 60 per cent of those 1.5 million jobs based outside London and the South East.

Following her speech, Ms Badenoch will meet New York-based investors and promote the UK as a “defence, cyber and technology superpower and a source of unrivaled talent”, discussing investment opportunities to grow the UK economy.

She will also speak with Katherine Tai, the US Trade Representative and her counterpart in the Biden administration.

Ms Truss recently said she does not believe the UK will enter negotiations on a US trade deal in the “short or medium term”.

The UK instead pursues agreements with individual states.

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