Davos: Reeves to meet Trump allies in search for UK growth
Rachel Reeves is expected to meet Donald Trump’s allies at Davos in a bid to talk up the UK’s growth prospects.
The Chancellor is set to attend the World Economic Forum in Switzerland in the days following the US President’s inauguration and in the wake of turmoil in the UK bond markets.
It follows a tricky week for Reeves which saw her future in No11 questioned as the pound fell and the long-term cost of government borrowing soared to its highest level since the 1990s.
She will meet global investors and top business leaders, according to the Telegraph, in what appears to be a move to court the new administration and renew her search for growth-boosting investment.
These are set to include: BlackRock chief executive Larry Fink, David Livingstone from Citi, JP Morgan’s Filippo Gori, and Ted Pick, the CEO of Morgan Stanley.
Reeves will also meet JP Morgan chief executive Jamie Dimon at the plush ski resort, who – alongside Fink – appears to have a close relationship with Trump, with both men reportedly being considered to run the US Treasury department.
‘Top-level attendees’
A Treasury spokesperson told the newspaper Reeves “will be speaking at a series of WEF-led events with top-level attendees from across business and government”.
They said she would also be”attending a wide range of side events and meeting a wide range of CEOs and business leaders in bilaterals.
“She wants the CEOs and global investors representing some of the biggest global companies to know that the UK is on the up.”
And they added: “We have talented people, a stable economy and are already welcoming investors from around the world to our shores. We have begun a decade of renewal and now is not the time to miss out.”
The Chancellor will reportedly host a run of private meetings on Wednesday and Thursday, attend a JP Morgan hosted round table event, but is not expected to give a speech.
Trump is expected to appear at Davos online on Thursday to deliver a “special address”.
Other world leaders including the presidents of Ukraine, South Africa and Argentina, as well as EU Commissioner Ursula von de Leyen and German Chancellor Olaf Scholz will speak.
Swiss recognition deal
It comes after Reeves and business secretary Jonathan Reynolds announced the UK had signed a new agreement to enable UK-qualified professionals to work in Switzerland.
The qualification recognition deal will allow some 200 professions, including lawyers, auditors, cabin crew, anaesthetists and ski instructors, to work in the EU nation.
Reynolds said: “As a resolutely pro-business government, we want to make it as seamless as possible for UK businesses to operate abroad.
“This agreement is testament to our unwavering commitment to economic growth.”
The summit also comes after a WEF report last week warned global economies are facing declining optimism amid growing concerns about armed conflicts, climate change and extreme weather, with 52 per cent of expert respondents citing an “unsettled” outlook.