UK to reimburse visa fees for top tech and science firms in push for growth
The UK will reimburse visa fees and fast-track applications for top international firms under plans to be announced by Rachel Reeves. The Chancellor will pitch Britain as a haven of “stability” in a volatile world as she seeks to woo business chiefs at the World Economic Forum in Davos on Tuesday. In a speech at the gathering in the Swiss Alps, Ms Reeves is expected to unveil incentives for global companies in AI, life sciences and sustainable energy industries to invest in the UK as part of her push for growth. Rachel Reeves will lead a delegation including Peter Kyle and Yvette Cooper to the Swiss Alps town (Jordan Pettitt/PA) · Jordan Pettitt Under the proposals, visa fees will be reimbursed for “select trailblazers in deep tech sectors” and workers joining British companies in these “priority” industries, the Treasury said. Meanwhile, companies seeking to grow their footprint in the UK will be offered fast-track processing for their sponsor licenses. It comes as tensions simmer between Washington and European countries including Britain after US President Donald Trump’s threats of a trade war over Greenland, a semi-autonomous territory in the Kingdom of Denmark. In an emergency press conference on Monday, Sir Keir Starmer called for calm and co-operation between allies amid the dispute over the mineral-rich island, which Mr Trump wants to take over because of its strategic Arctic location. But the US President, who is also expected to attend the gathering in Switzerland, said he was “100%” committed to hiking import taxes on the UK, Denmark, Norway, Sweden, France, Germany, the Netherlands and Finland.He said he would charge Britain a 10% tariff “on any and all goods” sent to the US from February 1, increasing to 25% from June 1, until a deal is reached for Washington to purchase Greenland from Denmark. And asked if he would use force to seize Greenland, the president told NBC News: “No comment.” Ms Reeves will lead a delegation including Business Secretary Peter Kyle and Foreign Secretary Yvette Cooper to the Swiss Alps, where she is expected to take part in a panel discussion including US secretary of commerce Howard Lutnick. There are no current plans for the Prime Minister to go, it is understood. Ahead of her appearance at the summit, Ms Reeves said: “In a volatile world Britain stands out. This Government is making sure Britain is home to the stability, talent and capital that businesses and investors want and that drive greater growth. “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.”
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