Keir Starmer hopes to woo world financial leaders in Davos on Thursday by assuring them that Britain “will be open for business” under a future Labor government.
With Rishi Sunak refusing to attend this year’s World Economic Forum in Switzerland, the Labor leader is likely to be the most high-profile British politician in attendance.
He will be joined by Rachel Reeves, the shadow chancellor, in a bid to encourage business leaders and international figures to imagine Britain under his leadership.
The duo will hope to reassure finance chiefs that they will attract more foreign investment, particularly in the “green” industries of the future.
During the day of negotiations, they will promote Labour’s Green Prosperity plan to decarbonise the economy, boost energy security and ensure Britain’s leadership in future green industries. Starmer’s focus on the plan could inspire some Labor figures who want to put pressure on his office to ensure environmental policies are at the heart of his manifesto.
Ahead of the visit, Reeves said: “With Labor in government, Britain will be open for business. We have the ambition and the practical ideas to make our country a leader on the global stage again, especially in those green industries of the future that are so vital to our energy security.
“We will restore economic growth in the UK, improving living standards and creating jobs, and bring back global investors to drive our economy forward – all built on the bedrock of economic stability and security.
“Labour will work in partnership with business to drive investment in the UK economy, to ensure the jobs of the future are in the UK and to ensure the UK is a world leader in the climate transition.”
Neither Sunak nor Jeremy Hunt, the chancellor, will attend the exclusive gathering, with the prime minister instead giving a short speech about equalisation.
Commerce Secretary Cammy Badenoch and Business Secretary Grant Shapps will represent the government instead, rubbing shoulders with their old boss Boris Johnson.
Starmer and Reeves will be the first Labor leaders to attend the meeting since John McDonnell made a surprise visit as shadow chancellor to Jeremy Corbyn’s shadow cabinet in 2018.
McDonnell told the Guardian ahead of his debut appearance that he traveled to the meeting to convey some truths, including the fact that those present were despised by ordinary voters.
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The visit will highlight how much Labor has changed under Starmer, further distancing the party from claims it is “anti-business”.
Johnson, like his former colleague Starmer, is on a mission to change his own image after ordering his ministers to avoid attending Davos. He described it as an elitist event after winning a huge majority in 2019 to confirm his party’s position among working-class voters.
The former prime minister has been on a networking mission of his own since leaving Number 10 after attending Cop27 and spending time at the after-dinner speech.
Labour’s new business drive comes after reports revealed donations to the party jumped by nearly a quarter to £4.7m, boosted by spending from unions and individual donors.
A party spokesman said donors “come back to Labor because they can see that we are a changed party that is serious about getting into government and building a fairer, greener and more dynamic Britain”.
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