New Visa rules are putting politics ahead of growth

“This does not mark the end of the road in our plan to cut migration,” the Home Secretary declared last week as latest visa figures were published, “there is more still to come.” His intervention follows a raft of recent changes to our visa rules and immigration system which will have far-reaching consequences as labour shortages and recruitment challenges continue to bite for many businesses. Last month, the Government hiked the standard salary threshold for skilled worker visas by almost 50% to £38,700 as it published new ‘going rates’ for international workers. Huge swathes of talented individuals across health & social care, housebuilding, engineering, renewable energy, education and creative industries will be denied the opportunity to contribute to our economy because they do not earn above the UK average. This is already leading to some firms revoking job offers to overseas graduates, exacerbating the difficulties that many employers face when trying to fill specific roles. Here in London, the move comes as our latest research indicates that half of employers are struggling to fill vacancies. Not only will this adjustment make it harder to hire for many, it will also impact our pipeline of future leaders. Analysis from the Entrepreneurs...

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