Starmer to tell global finance UK will be ‘open for business’ under Labour

The Labour leader and shadow chancellor Rachel Reeves are joining the annual gathering of international movers and shakers in Davos.

Labour leader Sir Keir Starmer and shadow chancellor Rachel Reeves (Stefan Rousseau/PA) (PA Wire)

Sir Keir Starmer will seek to reassure global finance chiefs that Britain will be “open for business” under a Labour government.

The Labour leader and shadow chancellor Rachel Reeves are joining the annual gathering of international movers and shakers at the World Economic Forum in the exclusive Swiss ski resort of Davos.

In a day of talks on Thursday with leading business, financial and government figures, party officials said they will be taking the message they want to pull in more foreign investment, particularly in the “green” industries of the future.

Labour will work in partnership with business to boost investment in the UK economy

Rachel Reeves

With a general election potentially a little over a year away, the visit will be seen as a further sign of Labour’s determination to underline its pro-business credentials under Sir Keir’s leadership.

In contrast, neither Rishi Sunak nor Chancellor Jeremy Hunt are attending, although the Government is being represented by Business Secretary Grant Shapps and International Trade Secretary Kemi Badenoch.

Ahead of the visit, Ms Reeves said: “With Labour in government, Britain will be open for business.

“We have the ambition and the practical ideas to have our country lead on the global stage again, especially in those green industries of the future that are so vital for our energy security.

“We will restore economic growth to the UK, improving living standards and creating jobs, and bring global investors back to drive our economy forwards – all built on the rock of economic stability and certainty.

“Labour will work in partnership with business to boost investment in the UK economy, to make sure the jobs of the future are in the UK, and to ensure the UK is a world leader in the climate transition.”