Reeves heads to Davos in bid for more investment

The Chancellor will attend the World Economic Forum’s annual meeting

Rachel Reeves will bid for more investment in Britain as she travels to the World Economic Forum’s annual meeting in Davos this week.

The Chancellor is expected to meet the heads of major international banks during her two-day visit to the Swiss town on Wednesday and Thursday in an effort to tout the UK as an investment opportunity.

In what the Treasury has described as the UK’s “most visible” presence “in years” at the annual meeting of business and political leaders, she will be joined by Business Secretary Jonathan Reynolds who will meet with corporate chiefs and foreign trade ministers.

Ms Reeves said: “Business leaders and investors need to know that the UK is where their businesses will flourish, so I’m meeting them face-to-face in Davos to make our case.

“We are one of the most exciting places in the world for them to put their money, with a history of innovation, a skilled workforce and a stable Government that backs business.”

The Government has made securing economic growth its primary goal, and sees bringing in more foreign investment as part of achieving that aim.

The Chancellor’s trip follows her mission to Beijing at the start of the year, where she sought to rebuild trading and financial links with China as part of those efforts to boost economic growth.

She received some good news on Monday as a survey of UK chief executives by consultancy PwC found Britain had leapfrogged Germany, China and India to become the second most attractive country for investment behind America.

But recent weeks have also seen concern about the Chancellor’s course, with finance chiefs at major corporations expressing pessimism about their businesses in the face of rising costs, including higher taxes.

Meanwhile, growth has flagged, with the economy expanding just 0.1% in November according to figures released last week, and the cost of government borrowing has risen.

Ahead of her trip to Davos, Ms Reeves vowed that she “will not rest until the UK economy is growing” and the Government was delivering on its plans.

Published: 21/01/2025 by Radio NewsHub