Chancellor Rachel Reeves will use the World Economic Forum in Davos this Tuesday to announce a significant new initiative aimed at attracting top global companies to the United Kingdom. The centrepiece of the plan involves reimbursing visa fees and expediting application processes for leading international firms in key high-growth sectors.
Pitching Stability in a Volatile World
In her speech to business leaders gathered in the Swiss Alps, Ms Reeves is expected to position Britain as a haven of "stability" amidst global economic and political uncertainty. She will lead a delegation that includes Business Secretary Peter Kyle and Foreign Secretary Yvette Cooper to the prestigious summit.
The Treasury confirmed that under the new proposals, visa fees will be refunded for "select trailblazers in deep tech sectors" and for workers joining British companies within designated priority industries. These sectors are understood to include artificial intelligence (AI), life sciences, and sustainable energy.
Fast-Track Licences and Investment Incentives
Furthermore, companies looking to expand their operations in the UK will be offered fast-track processing for their sponsor licences, significantly reducing administrative delays. This move is a core part of the Chancellor's broader push for economic growth, designed to make the UK a more attractive destination for vital talent and capital.
"In a volatile world Britain stands out," Ms Reeves stated ahead of the summit. "This Government is making sure Britain is home to the stability, talent and capital that businesses and investors want and that drive greater growth. My message at Davos this week is clear: choose Britain – it’s the best place in the world to invest."
Davos Backdrop of International Tension
The Chancellor's pitch for British stability comes against a tense international backdrop. US President Donald Trump has threatened a trade war with several European nations, including the UK, over the semi-autonomous territory of Greenland. President Trump has stated he is "100%" committed to imposing tariffs, starting with a 10% charge on all UK goods sent to the US from February 1, rising to 25% from June 1, unless a deal is reached for Washington to purchase Greenland from Denmark.
In response to the escalating situation, Prime Minister Sir Keir Starmer called for "calm and co-operation" between allies during an emergency press conference on Monday. President Trump, who is also expected at Davos, declined to comment when asked by NBC News if he would consider using force to seize the mineral-rich Arctic island.
Ms Reeves is scheduled to take part in a panel discussion at the forum alongside US Secretary of Commerce Howard Lutnick. There are currently no plans for the Prime Minister to attend the event in Switzerland.
