Chancellor Rachel Reeves will announce plans to refund visa fees for some global businesses on Tuesday, as she flies to the World Economic Forum in Davos aiming to showcase the UK as a haven of stability. The move is designed to encourage 'trailblazer' firms to bring highly skilled staff to Britain.
Reeves, accompanied by Business Secretary Peter Kyle, will hold meetings with business leaders at the annual gathering. She will also speed up the time it takes for companies to qualify as sponsors of migrant workers. 'Some countries give you a platform, but Britain gives you momentum. My message at Davos this week is clear: choose Britain – it’s the best place in the world to invest,' the chancellor said.
She will stress Labour’s investment in industry, including steel and clean energy, as well as the commitment to renew transport infrastructure in northern England. However, the upbeat message comes amid tensions over US tariff threats, with Donald Trump due to give a keynote speech on Wednesday.
Reeves pulled out of a London Stock Exchange event on Monday intended to celebrate a 'new golden age' for the City, as markets wobbled over Trump’s threat to impose 10% tariffs on eight European countries, including the UK, rising to 25% in June. She is also likely to face questions on a support package for hospitality businesses, as more than 130 hotel providers warned that business rate rises threatened investment and jobs.
