Chancellor Rachel Reeves will pledge that the United Kingdom will achieve the fastest adoption of artificial intelligence among the Group of Seven nations as part of a new strategy to revive the country’s stagnant economy. In a major speech in the City of London, she will outline three priorities for the decade ahead: strengthening economic growth across every region, accelerating artificial intelligence and technological innovation, and deepening ties with the European Union.

Reeves is set to announce £2.5 billion in funding for advanced computing, including up to £1 billion for a quantum computing procurement programme aimed at developing world leading prototypes. The package also includes a £500 million sovereign artificial intelligence fund to support domestic technology firms and help them compete globally. She will argue that Britain must actively shape its future through stability, investment and reform rather than fall behind other nations.

The speech comes after official figures showed the economy stalled at the start of the year, raising concerns about vulnerability to global instability and rising energy prices. Reeves maintains that embracing technological change and closer cooperation with European partners will help secure long term growth, while opposition figures have criticised the approach and accused the government of seeking to reverse the impact of leaving the European Union.