Shadow Chancellor will tomorrow [17
January] promise to “restore Britain’s reputation as a place
to do business” as she meets with global investors at the World
Economic Forum in Davos.
Speaking to business leaders at an event hosted by the investment
bank JP Morgan, the Shadow Chancellor will warn that the world
has become a more uncertain, volatile and dangerous place. She
will accuse the Conservatives of having presided over “fourteen
years of stagnant economic growth and political uncertainty
[that] has left Britain weaker.”
She will argue that Britain needs a new business model that puts
“economic security first and rebuilds our ability to do, make and
sell more at home.” She will add: “None of the ambitions of the
next Labour government can be achieved without business. The
lifeblood of economic growth is private sector investment.”
Reeves will be joined at the event by Labour’s Shadow Business
and Trade Secretary as part of a three-day
visit to the World Economic Forum’s annual meeting in Davos ahead
of the general election.
Reeves and Reynolds will address senior business leaders and
investors, including Novo Holdings, Essar Group and Ericsson,
before holding a series of bilateral meetings over the coming
days. Later in the day will speak on a panel
organised by the World Economic Forum on Modern Supply-Side
Economics.
Speaking at the event in Davos, Labour’s Shadow
Chancellor is expected to say:
“We are living in a new age of insecurity. The world has become a
more uncertain, volatile and dangerous place. That has become
ever more acute in recent days and weeks as we see wars and
conflict in Europe and the Middle East.
“These conflicts are happening thousands of miles away from
Britain’s shores. However, they are having a very real impact
closer to home, with rising energy bills, higher prices in the
shops and businesses anxious about disruptions to global trade.
“All major economies are being impacted by these global shocks,
but Britain has been uniquely exposed. Fourteen years of stagnant
economic growth and political uncertainty has left Britain
weaker: the chaotic departure from the European Union, the
turmoil under and now the managed decline with . This instability has turned
businesses away, damaged our reputation and made us a less
attractive place to do business.”
On Labour’s approach, she is expected to say:
“A changing world demands a change in our approach. A new
business model for Britain that puts economic security first and
rebuilds our ability to do, make and sell more at home. It’s an
approach I call securonomics.
“We must rebuild our nation’s economic defences so we can stand
tall on the world stage once again. That is the only way we can
bring about security for family finances and security for our
national economy. That is the change a changed Labour Party will
hope to deliver if we are elected to power later this year.”
On Labour’s plan for growth, she is expected to
say:
“I am ambitious for Britain’s economy. We are one of the world’s
leading creative and industrial hub – and I believe we are the
nation that is best equipped to seize on the opportunities of the
future in AI, clean power and life sciences.
“However, none of the ambitions of the next Labour government can
be achieved without business. The lifeblood of economic growth is
private sector investment. That is why we have put business
investment at the heart of our plan for growth.
“With Labour, Britain will be open to business. We will restore
stability and security into our economy. We will restore
Britain’s reputation as a place to do business. And we will be a
trusted partner with business in delivering the change our
country and our economy needs.”
Ends
Notes to editors
The breakfast hosted by JP Morgan will be a closed event. At
17:30 (Central European Standard Time), will speak on a panel
organised by the World Economic Forum on Modern Supply-Side
Economics. The panel will be held in Level 0, Sanada, Congress
Centre.
