Britain’s financial sector has become the latest to call for easier access to foreign workers following the introduction of post-Brexit rules.
TheCityUK, an industry body, is calling for the introduction of a short-term business visa to allow staff to work in Britain for up to six months without the paperwork required for a full work visa.
This comes after the government announced three-month temporary visas to authorize 5,000 heavy truck drivers and 5,000 poultry workers – steps that industry leaders said would not be enough to relieve pressure on these sectors.
Meanwhile, the fashion retailer Next said that unless immigration rules were relaxed to allow it to employ more foreign workers in warehouses and logistics, Christmas deliveries would be delayed.
TheCityUK said that nine months after the introduction of Britain’s post-Brexit immigration system, financial and professional services firms were experiencing “significant increases in costs to secure the highly skilled talent they need to compete on the global stage “.
“Although real progress has been made in removing unnecessary barriers and expanding the immigration pathways accessible to skilled talent, companies continue to grapple with process-related issues,” he said in a joint report. with EY and the City of London Corporation.
âIn many cases, relatively minor adjustments to the UK’s current mobility framework could go a long way to helping UK companies access the highly skilled international talent they need to grow and compete globally. “
The report says that in UK-based financial services 19.5% of workers are international, rising to 42% in fintech, one of the finance growth areas targeted by the government.
Miles Celic, Managing Director of TheCityUK, said: âThe UK is home to one of the world’s major financial centers and the industry is a strategic national asset that enables Britain to compete globally.
âBut to stay competitive, we need to have the best talent in the world.
âWithout this, we will not be able to innovate in key growth areas such as fintech or green finance, nor to develop our international commercial networks.
“The UK needs to do more to modernize its immigration processes, reducing the burden of bureaucracy and increasing its flexibility and adaptability to business needs.”