Immigration cap 'will harm UK business'
Bosses of people in banking jobs may be interested in the view of one expert who has warned the new immigration cap will have a detrimental effect on the UK.
Audrey Elliott, partner at international law firm Eversheds, stated that the move would make the country uncompetitive as companies will be less able to attract top talent from abroad, HR magazine reports.
"Curtailing the ability of UK employers to recruit from as wide a candidate pool as possible will work against those companies' ability to compete with their peers on a global level," she warned.
Exemptions for higher earners and intra-company transfers would not be enough to make the UK an attractive place for financial firms to hire, Ms Elliott continued.
Alex Patterson, partner at immigration law firm Fragomen, added that it remained to be seen whether the 20,700 cap on numbers is enough to meet the needs of businesses.
Earlier this week, it was announced by the Home Office that the proposed cap would not apply to anyone earning over £150,000.