UK backs more funding for Ukraine power, urges G7 to implement tax deal

© Reuters. Britain’s Chancellor of the Exchequer Rishi Sunak speaks at the Confederation of British Industry’s (CBI) annual dinner in London, Britain, May 18, 2022. Peter Nicholls/REUTERS

LONDON (Reuters) – Britain will guarantee a further $50 million in financing to help Ukraine’s electricity provision, British finance minister Rishi Sunak said on Thursday as he met his peers from the Group of Seven rich economies in Germany.

The finance ministry also said in a statement that Sunak would urge the G7 on Friday to make progress on implementing a global corporate tax deal struck last year.

“In Bonn, the Chancellor will encourage his partners to maintain momentum and collaborate to deliver on the agreement as swiftly as possible,” the ministry said.