1. ITV Report

Theresa May set to reassure business leaders in Davos

The Prime Minster gave a landmark Brexit speech on Tuesday. Credit: AP

Theresa May will attempt to reassure nervous business chiefs about her plans for Brexit when she holds key meetings in Davos later today.

The Prime Minster is attending the World Economic Forum at the Swiss alpine resort in a bid to "engage with a wide range of business leaders" and discuss the "type of relationship" Britain will have with the EU going forward.

A Downing Street spokeswoman said: "I think it will be an opportunity for her primarily to engage with a wide range of business leaders and inward investors from around the world.

An inside view at the World Economic Forum in Davos on Tuesday. Credit: AP

"Talking to them about the Government's plan for Brexit... the opportunities of strengthening our trading relationships with other countries and the benefits that that can bring for business."

The meeting in Davos will see bankers raise the prospect of jobs moving out of the UK to other EU member states amid fears of the impact of Brexit.

HSBC's chief executive Stuart Gulliver had earlier indicated 1,000 jobs from London could move to Paris, while UBS and Goldman Sachs have both said they are preparing to move positions away from the UK.

In her landmark Brexit speech on Tuesday, Mrs May raised the issue of the financial-services sector and said a future deal with Brussels could see Britain "take in elements of current single market arrangements."

Theresa May will attempt to persuade business leaders to remain in the UK. Credit: AP

Meanwhile, talks will resume in London in an attempt to bridge the divide between the Westminster and the devolved administrations.

Speaking ahead of the meeting, Scottish Secretary David Mundell said: "As we leave the EU, the UK Government is committed to securing a deal that works for all parts of the UK.

"It is only by coming together that we can make the most of the opportunities ahead."

Secretary of State for Scotland, David Mundell MP. Credit: PA

Last year Scottish ministers published proposals to protect Scotland's place in Europe, including an option to remain in the single market, even if the UK decides to leave it.

Mr Mundell said: "We are grateful to the Scottish Government for their paper, and look forward to hearing more detail.

"e won't agree on everything, but we are looking at their proposals carefully, and today's discussion will be an important part of that."