Chancellor Rachel Reeves to join celebrities and world leaders at WEF Davos to drum up support for UK economy
Chancellor Rachel Reeves will travel to the World Economic Forum (WEF) in Davos this week to court potential investors in UK growth projects, joining hundreds of political and economic leaders gathering in the Swiss Alps in the shadow of Donald Trump’s inauguration.
Ms Reeves will join political leaders including German chancellor Olaf Scholz, European Commission President Ursula von der Leyen, Volodymyr Zelensky, the Ukrainian president, and a vice premier of the Chinese Communist Party, with the agenda likely to be set by Mr Trump’s opening gambits in office.
The incoming president had promised the imposition of tariffs on imports, and while they did not feature in the day-one commitments at his inauguration, his second term carries the threat of upending global trade and fundamentally altering America’s security commitments.
Money blog: Pound surges after Trump omission
Mr Trump will address the event remotely at the end of proceedings on Thursday, and before then the WEF will provide a platform for the first public reaction from international political leaders to his plans.
Perhaps as important for the 4,000 or so delegates is the opportunity it provides for private meetings and bilateral conversations.
The chancellor’s focus during a 36-hour visit will be on drumming up investment and reassuring potential partners about the stability of the UK economy and the viability of her plans for growth.
Davos Pic: AP
Those plans have been under scrutiny since the turn of the year after fluctuations in debt markets forced the cost of government borrowing up, in turn threatening the fiscal rules Ms Reeves says are central to her credibility.
While largely driven up by international factors, particularly the impact of Mr Trump’s policies, borrowing costs receded at the end of last week after better-than-expected UK inflation figures, easing the short-term political pressure.
What’s on the agenda?
Ms Reeves does not feel she has anything to apologise for following the bumpy start to 2025, but Davos offers her an opportunity to make the case publicly and privately for her plans, with the hope of securing some tangible investment commitments.
She will meet leading financiers convened by JP Morgan and its chief executive Jamie Dimon, investors including the chief executive of OTTP, a leading Canadian pension fund, and address the country strategic dialogue, a private meeting of more than 80 executives, and attend a lunch arranged by business lobby group the CBI.
She will also give a round of interviews to international media outlets in which she will stress her plans to stabilise the economy, reform public services, and begin the structural supply-side reforms she believes are fundamental to encouraging growth.
She will not be alone in seeking to leverage the unique convening power of the annual meeting to her advantage. More than 50 heads of state and as many finance ministers will be in Davos, drawn by the presence of three times as many chief executives and chairs of major companies, corporations and wealth funds.
While public sessions will be dominated by discussion of current opportunities and challenges, including the ubiquitous AI, privately the event offers the 4,000 delegates a chance to speed-date with their peers.
David Beckham and fashion designer Diane von Furstenberg will lend a little celebrity to an event that remains overwhelmingly earnest and self-assured.
Now in its 54th year, the WEF has been a crucible for the principles of globalisation and the liberal economic consensus, which maintains that only open markets and cooperation can deliver profit, prosperity and social justice.
Its immodest mission, set out by founder Klaus Schwab and featuring on the merchandise handed to participants, remains “committed to improving the state of the world”.
Not on the agenda is the question of whether the annual gathering of the billionaire class – Davos’ private jet traffic is notorious- has achieved that goal.
UK
More than 500 people arrested after Palestine Action protest – with almost half aged 60 and above
The number of people arrested after a protest in London on Saturday supporting banned group Palestine Action has risen to 532, police have said.
Around half of them (259) were aged 60 and above – including almost 100 people who were in their 70s.
Some 522 arrests were for displaying a placard in support of a proscribed organisation contrary to Section 13 of the Terrorism Act 2000, according to the Metropolitan Police.
As of 9pm on Saturday, the number was put at 466.
Membership of, or support for, Palestine Action is a criminal offence punishable by up to 14 years in prison under the Terrorism Act.
A rally supporting Palestine Action in Parliament Square. Pic: Reuters
One of the arrests took place as the Palestine Coalition march formed in Russell Square, while 521 were at the protest in Parliament Square.
Of those arrested, the biggest number (147) was in the 60-69 age group, while 97 people were aged between 70 and 79, and 15 others were between 80-89.
Six were aged 17-19, sixty-five were in the 20-29 age group, 55 were aged 30-39, 45 were aged 40-49 and 89 were in the 50-59 age group.
The average age of those arrested was 54, while some 263 of those arrested were male, 261 were female and eight either defined themselves as non-binary or did not disclose their gender.
Among the arrests, six were for assaults on officers (none were seriously injured), one was for “obstructing a constable in the execution of his/her duty”, two were for breaching Section 14 Public Order Act conditions, and one was for a racially aggravated public order offence.
People attend the protest in central London. Pic: PA
Hundreds of people attended Saturday’s demonstration in Parliament Square, organised by Defend Our Juries, with the Metropolitan Police warning it would arrest anyone expressing support for Palestine Action.
Anyone who was arrested as part of the operation was taken to one of two prisoner processing points in the Westminster area.
Those whose details could be confirmed were released on bail to appear at a police station at a future date. They were given conditions not to attend future demonstrations related to Palestine Action.
Those who refused to provide their details at the prisoner processing points and those who were found to have been arrested while already on bail, were taken to one of a number of Met Police custody suites.
Read more from Sky News:
Four members of UK family die in Portugal crash
UK bracing for another heatwave
Charity Amnesty International described the mass arrests under UK terrorism law as “deeply concerning”.
The crowd, sat on the grass inside Parliament Square, could be seen writing “I oppose genocide, I support Palestine Action” on white placards at 1pm, with the vast majority remaining silent.
Meanwhile on Sunday, hundreds of people joined a march on Downing Street to urge the release of those being held in Gaza by Palestinian militant group Hamas.
A scuffle broke out after at least two men shouted “Free Palestine” in front of the march.
One man was seen being bundled to the ground close to Trafalgar Square after being surrounded by around a dozen people.
Another man was seen being moved away by police officers after he began shouting.
Amnesty International says it is “deeply concerning” that police made 474 arrests during a Palestine Action demonstration in London.
Metropolitan Police said 466 were detained under the Terrorism Act for showing support for a banned group.
Eight more people were arrested for other offences, including five for assaulting officers.
The Met said it was the most arrests it’s made related to a single operation in at least the past decade.
Pic: PA
Organiser of the event, Defend Our Juries, earlier said up to 700 people were at the event in Parliament Square and claimed police were preparing for the “largest mass arrest in their history”.
The group said those arrested included former Guantanamo Bay detainee Moazzam Begg, NHS workers, quakers and a blind wheelchair user.
Amnesty International UK’s chief executive Sacha Deshmukh said in a statement: “The protesters in Parliament Square were not inciting violence and it is entirely disproportionate to the point of absurdity to be treating them as terrorists.
“Instead of criminalising peaceful demonstrators, the government should be focusing on taking immediate and unequivocal action to put a stop to Israel’s genocide and ending any risk of UK complicity in it.”
The Met said a “significant number of people” at the event were seen “displaying placards expressing support for Palestine Action”.
Home Secretary Yvette Cooper said: “The right to protest is one we protect fiercely but this is very different from displaying support for this one specific and narrow, proscribed organisation.
“Palestine Action was proscribed based on strong security advice following serious attacks the group has committed, involving violence, significant injuries and extensive criminal damage.”
Please use Chrome browser for a more accessible video player
Palestine Action supporters arrested at protest
Police said those arrested had been taken to processing points in Westminster and any whose details could be confirmed were bailed on condition they didn’t attend further Palestine Action support events.
Others whose details could not be verified, possibly because they refused to give them, were taken to custody suites across London.
Pic: PA
The protests have put a strain on authorities’ capacity to cope.
Sky News understands senior leaders in the prison service, known as “Capacity Gold”, met today to discuss how to deal with the large number of arrests as the male prison estate is close to full.
It’s understood 800 inmates were moved out of the busiest jails in and around London beforehand.
In a statement, the Metropolitan Police Federation said: “Thinking of our colleagues and wishing all assaulted officers well. Remember there are no ‘extra’ police officers – just the same ones having their days off cancelled, having to work longer shifts and being moved from other areas. Officers are emotionally and physically exhausted.”
Read more: What does proscribing a group mean?
Legislation to ban Palestine Action came into force on 5 July, making it a criminal offence to show support for the organisation, carrying a prison sentence of up to 14 years.
Defend Our Juries said earlier this week the protest would still go ahead, following several similar demonstrations since it was outlawed last month.
On Saturday, a spokesperson said: “Palestine Action and people holding cardboard signs present no danger to the public at large.”
Pic: PA
Human rights advocates Amnesty International described the arrests of so many people under UK terrorism law as “deeply concerning”.
Another march organised by the Palestine Coalition, which is a separate group, set off from Russell Square and assembled on Whitehall.
The Met Police said one person had been arrested there for showing a placard in support of Palestine Action.
Pic: Reuters
Earlier this week, three people charged as a result of illegal Palestine Action activity were named.
Jeremy Shippam, 71, of West Sussex, Judit Murray, also 71, of Surrey, and Fiona Maclean, 53, of Hackney in east London, will appear at Westminster Magistrates’ Court on 16 September.
The ban on Palestine Action faces a legal challenge in November after the High Court granted a full judicial review to Palestine Action co-founder Huda Ammori.
-
Sports3 years ago‘Storybook stuff’: Inside the night Bryce Harper sent the Phillies to the World Series
-
Sports1 year agoStory injured on diving stop, exits Red Sox game
-
Sports2 years agoGame 1 of WS least-watched in recorded history
-
Sports2 years agoMLB Rank 2023: Ranking baseball’s top 100 players
-
Sports4 years ago
Team Europe easily wins 4th straight Laver Cup
-
Sports2 years agoButton battles heat exhaustion in NASCAR debut
-
Environment2 years agoJapan and South Korea have a lot at stake in a free and open South China Sea
-
Environment2 years agoGame-changing Lectric XPedition launched as affordable electric cargo bike