Jeremy Hunt will ‘beat the drum’ for investment in Britain at the World Economic Forum in Davos
Jeremy Hunt will ‘beat the drum’ for investment in Britain as he looks to woo business leaders at Davos.
The Chancellor arrives at the annual meeting of the World Economic Forum in the wake of his Labor rival Rachel Reeves, who has been on a charm offensive since earlier this week.
It is the chancellor’s first visit to Davos since 2019. And he was criticized by Reeves for his late arrival after last night’s vote on the government’s Rwanda plan.
The Treasury said Hunt would meet with leading global executives and “send the message that Britain is a world leader in science and technology and ripe for investment.”
Jeremy Hunt will ‘beat the drum’ for investment in Britain as he looks to woo business leaders in Davos
The Chancellor arrives at the annual meeting of the World Economic Forum in the wake of his Labor rival Rachel Reeves, who has been on a charm offensive since earlier this week.
Eyebrows have been raised over Rishi Sunak not being in Davos at a time when Britain is looking to boost its stature. Foreign Secretary Lord Cameron and Investment Minister Lord Johnson also represented Great Britain in addition to Hunt
And he will appear on a panel alongside bosses including Sam Altman, CEO of artificial intelligence pioneer OpenAI, and Microsoft’s Satya Nadella.
He “will also champion Britain’s ambition to be a science and technology superpower,” the government said. Hunt said: “We have some of the best and brightest companies in sectors of the future such as digital technology and life sciences. It is these strengths that will drive growth in the UK economy in the coming years.”
Eyebrows have been raised over Rishi Sunak not being in Davos at a time when Britain is looking to boost its stature. Foreign Secretary Lord Cameron and Investment Minister Lord Johnson also represented Great Britain in addition to Hunt.
Reeves claimed Hunt’s actions – a day before the end of the conference – had left companies in the lurch.
“Last year they said they felt like Britain was left out in the cold here because they felt Britain didn’t have any representation,” she told the Mail. ‘They were then told that the Chancellor would come this year, but that has not happened so far.
“I’ve met dozens of companies and investors, sovereign wealth funds, some of the biggest investors in the world.
“The Chancellor and the Prime Minister should be here. If I’m chancellor next year, I’ll be here next year.”
Reeves insisted she will not cause a collapse in the financial markets such as occurred after Liz Truss’s disastrous mini-Budget, saying: ‘I will never play fast and loose with the public finances. I would like to see lower taxes for working people, but I am not making any commitments.’
Reeves hinted in an interview with The Telegraph that she wanted to cut taxes even for those paying the top 45p in the pound.
Asked whether she agreed she wanted lower taxes for workers ‘across the spectrum’, including those paid more than £100,000, she told the newspaper: ‘Yes’.