Mrs May packs her snow boots

is in control once again.”

Months after that speech her confidence was buffeted by the loss of the Tory Commons majority in the general election and the shock surge in votes towards Mr Corbyn’s Labour. Some Tories fear the electoral battering has exacerbated the Prime Minister’s instinct for economic intervention and desire to tame business boardrooms.

“We cannot take on Corbyn by offering a lukewarm version of socialism,” one Tory backbencher told me. “We need to start making a robust case for free markets once of its own destiny again.” For all her setbacks, Mrs May can point to progress in delivering her Davos objectives over the past year at home.

Business worries about Brexit have been evaporating as the steadily growing economy defies the doom-mongers.

MPs report that the Government’s progress on delivering on the referendum’s verdict is reducing the anti-establishment anger among the electorate.

One MP representing a constituency that voted overwhelmingly for Britain to leave the EU in the 2016 referendum told me: “My constituents are pleased to see that we are getting out of the EU – they just want us to get on with it.”

In this year’s Davos speech, Mrs May could use Brexit Britain as an example to the world of how an effort to renew national self-government, independence and business confidence can begin to overcome the jitters about the global financial system.

The gathering gives her an opportunity to step up the fight against the voices on the fringe trying to tempt Britain and other countries around the world back down the dead end of socialism.