Britain’s global banks have called for the government to provide a special UK visa waiver for the industry after Brexit in order to preserve the City of London’s reputation as one of the world’s leading financial centres.
One of the key recommendations in a report from TheCityUK, the finance industry is calling on the government to set up a new system that allows international finance staff posted to the UK for less than six months to benefit from a UK visa waiver.
According to the report, the government must consider the importance of continuing to attract the world’s best talent to the City, including the fact that it is the largest source of corporate tax revenue.
Specifically, the report has recommended that the government introduces a new flexible short-term category to their UK immigration system, which would provide easy access to the country to employees of banks, insurance companies, accountants and lawyers.
Regardless of what the government decides, ministers are expected to provide an overview of its future UK immigration plans later in the year. However, the report on immigration will be formally published this month to coincide with a keynote speech from UK immigration minister Caroline Nokes.