Commenting on the publication of the Immigration White Paper today, the City of London Corporation’s Policy Chair Catherine McGuinness said:

“The long-awaited Immigration White Paper provides welcome clarity on the government’s vision for delivering a skills-based system. The decision to scrap the cap on the number of skilled workers who can enter the UK is a positive signal that Global Britain is open to global talent.

“Access to highly-skilled talent is a critical issue for the financial and related professional services industry. More than four in ten people working in the City of London are from outside the UK, with a third of wider financial and professional services employment accounted for by people born overseas.

“It is vital that firms of all sizes – from fast-growing fintech firms and creatives to more established international institutions – across London and the UK can employ the people they need at all skill levels. This means developing local talent as well as attracting international skills where required.

“The City of London Corporation published a report last month outlining recommendations to streamline the visa application process and make it more user friendly. Alongside changes to policy, these steps can help to deliver a more efficient UK immigration system for applicants and businesses.”