City Corporation responds to new immigration rules

Responding to the Home Secretary’s written ministerial statement and accompanying government publication on immigration, Catherine McGuinness, Policy Chair at the City of London Corporation, said:

“We have been banging the drum for an efficient world-class visa system to attract and retain high-quality talent, and the new graduate route will give talented overseas students a chance to stay in this country and make their mark. It is also a positive step that the government is reviewing entry routes for intra-company transfers and graduate trainees.

“There are other parts of the new system detailed in the paper which were well-received by our sector when announced in February, such as abolishing the skilled visa cap and the removal of the Resident Labour Market Test.

“The phased approach to implementation will be met with a sigh of relief by businesses up and down the country and we look forward to seeing more detail on the timetable. Given the scale of change, it is vital that firms are given adequate notice to make the required preparations, particularly those SMEs who may not have the resources of larger employers.

“As we face an increasingly challenging economic landscape, what is more clear than ever is that we need an immigration system that works for the whole of the financial services ecosystem. This includes those supporting industries which keep the City ticking.

“The City’s diversity and openness are two of its great strengths and must be upheld if we are to continue to flourish in these difficult times.”

Notes to editors

The City of London Corporation is the governing body of the Square Mile dedicated to a vibrant and thriving City, supporting a diverse and sustainable London within a globally-successful UK.