Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if she will make an assessment of the potential lessons that could be learned for (a) her Department and (b) other Departments from the policies of the Javier Milei administration in Argentina in the context of trends in the level of (a) economic growth and (b) inflation in that country; and if she will hold discussions with her Argentinian counterpart on economic policy.

The UK Government continually monitors international economic developments and is aware of the domestic reforms that the administration of Javier Milei is undertaking to reduce inflation and restore economic growth.

The UK regularly engages with Argentina on international economic issues, both bilaterally and through various multilateral fora including the G20. In the last six months, the Foreign Secretary and Secretary of State for Business and Trade have met their Argentine counterparts to discuss how to further deepen the trading and investment relationship. UK-Argentina trade was worth £2bn in the four quarters to the end of Q2 2024.

The UK will continue to work with the Milei administration to further strengthen our economic relationship in areas of mutual interest.