Chancellor Rachel Reeves will fly to the World Economic Forum in Davos on Tuesday with a clear mission: to rebrand the United Kingdom as a global bastion of stability and a premier destination for international capital. Her pitch, aimed squarely at the world's business elite, will be underscored by a significant policy announcement designed to lure top-tier companies and their highly skilled staff.
Visa Incentives for 'Trailblazer' Businesses
In a direct move to attract what she terms "trailblazer" investment, Reeves will announce tweaks to the UK's visa regime. The centrepiece of this offer is a commitment to refund visa application fees for select global businesses that choose to bring highly skilled personnel to Britain. Alongside this financial incentive, the government will also streamline and accelerate the process 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 in pre-released remarks. She emphasised that the Labour government is focused on making the UK the home for the "stability, talent and capital" that drives economic growth.
Davos Agenda Amidst Global Trade Tensions
Reeves's optimistic promotion of Britain as an investment haven comes against a fraught international backdrop. Her trip to the Swiss resort coincides with a major row between the United States and Europe, sparked by former President Donald Trump's threat to impose tariffs of 10% on eight European nations, including the UK, potentially rising to 25% in June.
This cloud of trade uncertainty was palpable enough to cause the Chancellor to cancel a scheduled appearance at the London Stock Exchange on Monday, where she was to celebrate a "new golden age" for the City. Trump, who is attending Davos with the largest US delegation to date, is set to deliver a keynote speech on Wednesday, while his Treasury Secretary, Scott Bessent, is expected to face intense questioning on the tariff plans.
Domestic Pressures and Industry Warnings
While Reeves's focus in Davos will be on wooing international tech giants, she is simultaneously facing mounting pressure at home from key UK industries. On the eve of her departure, more than 130 hotel and accommodation providers, including major chains like Hilton, Marriott, and Travelodge, issued a stark warning.
In a letter to the Chancellor, they argued that planned rises in business rates—changes set in motion by her November budget—pose "the most significant challenge" to their viability. The signatories warned that these costs threaten investment and jobs across the hospitality sector, urging the Treasury to announce a support package. Ministers have promised measures for several days, but no concrete details have yet emerged, following a series of other government U-turns on policy.
During her engagements, Reeves is also expected to champion Labour's domestic industrial strategy. She will highlight planned investments in foundational sectors like steel and clean energy, as well as the party's commitment to renewing transport infrastructure in the north of England, framing these as part of a coherent plan for long-term, sustainable growth.
