UK to reimburse visa fees for top tech and science firms in growth push

Chancellor Rachel Reeves will announce at Davos that the UK will reimburse visa fees and offer fast-track sponsor licences for selected international firms in AI, life sciences and sustainable energy.

Chancellor Rachel Reeves will use a speech at the World Economic Forum in Davos to set out measures to attract international companies. The plans reported by the Treasury include reimbursing visa fees and fast-tracking sponsor licences for some firms. The focus is on AI, life sciences and sustainable energy as priority sectors. Reeves will lead a delegation that includes Business Secretary Peter Kyle and Foreign Secretary Yvette Cooper and will pitch Britain as a place of stability for business. What is proposed: - The Treasury says visa fees will be reimbursed for selected deep-tech trailblazers and for workers joining British companies in priority sectors. - Companies seeking to expand in the UK will be offered fast-track processing for their sponsor licences. - Reeves will make the announcement at the World Economic Forum and is leading a delegation including Peter Kyle and Yvette Cooper. - She is expected to take part in a panel discussion that includes US secretary of commerce Howard Lutnick, and US president Donald Trump is also expected to attend the forum later in the week. Summary: Officials present the measures as incentives aimed at drawing international firms in targeted sectors. Details of eligibility and timing will be given in the Chancellor’s speech at Davos. The immediate next step is the public unveiling at the World Economic Forum.