Francine Lacqua

But you think the trade deal stands?

Because at the moment there's wild speculation about whether everything needs negotiating, whether President Trump goes really hard.

How do you model this?

And I want to get back to you in a second.

Governor Bailey, though, said that he worries about also President Trump's attacks on the Fed and that could create shockwaves for the UK.

Do you agree with that?

So there's no worry about central bank independence that could also impact or inspire maybe some of the opposition in the UK were they to come to power?

Chancellor, I don't know whether you're meeting with Scott Besant, the Treasury Secretary here, or if you bump into him on promenade.

So here in Davos you also have an announcement which is basically helping out with visas.

Tell us a little bit about that and do you worry that it's going to be drowned in everything else that's going on?

Just a little bit of news that we have out there.

Chancellor, there's a growing clamour in labour circles, even from some of your own cabinets, for the UK to join a customs union with the EU.

Is that on the cards?

But Chancellor, I mean, mathematically, just, you know, if you leave politics to one side, again, rejoining the customs union could be more beneficial.

So do you see a future at any point where the UK goes back in?

There is, of course, big news about a new embassy, a Chinese embassy in London today.

How do you see actually the relationship with the UK and China evolving?

If the US continues being a little bit, you know, not a little bit, actually belligerent with Europe, do you see the UK getting much, much closer to China?

Chancellor, back in Westminster, a lot of people in Labour are thinking about a challenge to your leadership and Keir Starmer's leadership in the coming months, especially if the local elections are very bad.

What will you tell investors here in Davos who might be worried about a more left-wing PM and Chancellor getting in?