Highlights
- Reeves announces visa regime changes including fee refunds for 'trailblazer' businesses bringing skilled workers to UK.
- Chancellor faces questions over hospitality support package as 130 hotel providers warn of business rates threat.
- World Economic Forum overshadowed by Trump's tariff plans and Greenland row.
Chancellor Rachel Reeves will pledge to refund visa fees for certain global businesses on Tuesday as she attends the World Economic Forum in Davos, promoting the UK as a stable investment destination amid Donald Trump's latest tariff threats.
Reeves, accompanied by business secretary Peter Kyle, will hold meetings with business leaders at the annual gathering of the global elite in the Swiss mountain resort, announcing adjustments to the visa regime designed to attract "trailblazer" businesses.
The measures include refunding fees for companies bringing highly skilled staff to the UK and accelerating the time required to qualify as a sponsor 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," Reeves said in pre-released remarks.
She added "This government is making sure Britain is home to the stability, talent and capital that businesses and investors want and that drive greater growth."
The chancellor will highlight Labour's investment in industry, including steel and clean energy, alongside commitments to renew transport infrastructure in north of England.
Trump overshadows event
Reeves's upbeat message comes as the forum faces overshadowing by tensions between the US and Europe over Greenland's future.
Trump, attending with the largest ever US delegation, will deliver a keynote speech on Wednesday, while treasury secretary Scott Bessent faces expected questions over US tariff plans on Tuesday.
The chancellor pulled out of a London Stock Exchange event on Monday celebrating a "new golden age" for the City as markets wobbled following Trump's threat to impose 10 per cent tariffs on eight European countries, including the UK, rising to 25 per cent in June.
While focusing on global tech companies well represented at Davos, Reeves is likely to face questions over a support package for hospitality businesses aimed at cushioning the impact of business rates changes from her November budget.
More than 130 hotel providers, including Butlin's, Hilton, Marriott International and Travelodge, wrote to the chancellor warning that business rate rises threatened investment and employment.
The signatories stated planned changes "present the most significant challenge to accommodation providers in terms of their ongoing viability, and many will face tough decisions in terms of employment and their ability to invest".
Ministers have promised measures for several days without publishing details, following other Treasury reversals including winter fuel allowance, welfare cuts and inheritance tax on farms.
