From Morningstar:

Chancellor Jeremy Hunt will champion UK innovation and technology at the annual World Economic Forum in Davos. He aims to attract international investment, despite the UK’s small increase in inflation. Hunt will host discussions on global headwinds in technology and the role of technology in economic growth, alongside bilateral meetings with global company bosses.

Foreign Secretary David Cameron is also at Davos, where Labour representatives have voiced differences in economic approach. Labour’s shadow business secretary stated the party offers a plan for growth, while Labour’s shadow chancellor asserted that Labour’s policy prospectus in the UK would differ from “Bidenomics,” with more reliance on planning reforms and non-fiscal levers to boost growth if they win the next election.

Additionally, it was reported that the Labour Party’s commitment to invest GBP28 billion annually into green projects was not mentioned in a published campaigning brief.

Chancellor Jeremy Hunt will be the first UK chancellor to attend the Davos summit since 2019, and he will use the trip to encourage inward investment, hold bilateral meetings, and champion the UK’s ambition to be a science and technology superpower. He noted that the UK recorded a small increase in inflation, and will participate in discussions and panels on global headwinds in technology and the role of technology in economic growth.

Lastly, a ban on UK military exports to Russia has highlighted the sharp reduction in Britain’s international arms sales, with the value dropping to roughly GBP86 million in 2023 from GBP2.2 billion in 2020.

Chancellor Jeremy Hunt emphasizes that the UK is “on the up and open for business” at the World Economic Forum. Hunt will be the first UK chancellor to attend the annual gathering of international movers and shakers in the last five years. His visit aims to promote the UK’s science and technology ambitions and attract investment from the international business community, despite a small increase in inflation and the sharp decline in international arms sales.



Read more: UK ‘On The Up and Open For Business,’ Hunt to Tell…