Chancellor Rachel Reeves is spearheading a concerted government effort to attract international capital by leading a delegation of top British entrepreneurs to the World Economic Forum in Davos next week, City AM can reveal.
Showcasing Britain's Vibrant Start-Up Scene
The delegation will include founders from some of the UK's most rapidly expanding new businesses. They will join Reeves and Business Secretary Peter Kyle in the Swiss Alps. The mission's core objective is to showcase the dynamism of the British start-up ecosystem to a global audience of investors and decision-makers.
The group is set to include Mia Drennan, chief executive of Global Loan Agency Services (GLAS). Her debt administration firm, which specialises in complex loan restructuring, achieved a billion-dollar valuation for the first time in December following a majority stake acquisition by Oakley Capital.
This push forms part of a wider strategy to reverse a decline in international investment into the UK. In October, ministers launched a revamped 'concierge service', developed with the City of London Corporation, designed to smooth the path for foreign firms expanding here and to connect international investors with opportunities nationwide.
Pitching Stability Amid Global Uncertainty
Alongside the delegation's activities, the Chancellor has a packed schedule of high-level meetings. She is due to participate in a panel discussion on Tuesday alongside Bank of America's Brian Moynihan and EY's Janet Truncale. Reeves will also hold talks with JP Morgan chief Jamie Dimon, among others, aiming to position the UK as a beacon of stability for investment against a turbulent geopolitical backdrop.
This context has been underscored by recent actions from Donald Trump's White House, including an overnight raid in Venezuela, threats of military action in Iran, and a legal probe into the Federal Reserve.
While Prime Minister Keir Starmer is not expected to attend, his business adviser, Varun Chandra, will be part of the UK contingent. Notably, Reform UK leader Nigel Farage will also be at Davos for the first time, despite his past criticism of the summit. He is scheduled to speak at events hosted by USA House and Bloomberg.
A Davos Reset After Budget Turbulence
The Chancellor will be hoping the Davos trip helps shift focus away from November's tumultuous Budget. That fiscal event was marred by significant leaks and introduced tax rises totalling around £26 billion, pushing the overall tax burden to a record high.
Key measures included an extension of the income tax threshold freeze, a multibillion-pound levy on gambling firms, and a new mansion tax on properties valued over £2 million. However, Reeves's decision to more than double her fiscal headroom—the buffer within her self-imposed rules—combined with December's Bank Rate cut to a three-year low, has subsequently helped to calm gilt markets. Government borrowing costs are now at their cheapest since November 2024.
The Treasury declined to comment on the delegation.
