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Reeves to refund some visa fees to attract 'trailblazer' investment to UK
Summary
Chancellor Rachel Reeves will announce at the World Economic Forum in Davos that some global firms will be offered refunded visa fees and faster sponsor qualification to encourage highly skilled staff to the UK. Details of the measures and any wider support packages have not yet been published.
Content
Rachel Reeves will pledge to refund visa fees for some global businesses when she attends the World Economic Forum in Davos. She will be accompanied by business secretary Peter Kyle and will hold meetings with business leaders there. The announced visa tweaks are aimed at encouraging "trailblazer" businesses to bring highly skilled staff to the UK, including refunding fees and speeding up the time to qualify as a sponsor. She will also emphasise Labour's investment in industry, including steel and clean energy, and a commitment to renew transport infrastructure in the north of England.
What is known:
- The chancellor will offer refunds of some visa fees for certain global businesses, according to the pre-announcement.
- The government plans to speed up the process for firms to qualify as sponsors of migrant workers.
- Reeves will make the announcements while attending the World Economic Forum in Davos and meeting business leaders.
- She is expected to highlight Labour investment priorities such as steel, clean energy and northern transport projects.
- More than 130 hotel providers wrote to the chancellor warning that business rate rises threaten investment and jobs and seeking a solution.
- Reeves withdrew from a London Stock Exchange event as markets reacted to US tariff threats, which are influencing the Davos agenda.
Summary:
The chancellor's measures are presented as steps to make it easier for international firms to bring skilled staff to the UK and to promote investment, and she will set out the plans in Davos. Hospitality firms have urged for separate support over business rate changes, and ministers have said details of measures will follow. Undetermined at this time.