By Claire West
The CBI commented on a statement today (Tuesday) by Theresa May, Home Secretary, on the annual cap on UK immigration.
John Cridland, CBI Director-General Designate, said:
“This announcement shows that the Government has listened to the needs of business and has acted to support the recovery. This is a good result for the economy and for the country as a whole, and sends out the message that Britain really is open for business.
“Crucially, the design of the new system prioritises the routes of entry that matter most to the economy. The new system rightly gives priority to people with a job offer over those without one, so companies will still be able to access talent from around the world.
“Exempting most ‘Intra-Company Transfers’ from the cap will also allow firms with international operations to manage their global workforce effectively. This will make sure that the UK remains an attractive place to base new projects and investment, which means more jobs for UK workers.
“Of course, achieving a reduction in net migration will require action in other areas, including student, family and settlement visas. So we welcome the Government’s announcement of a consultation on student visas.
“Over the coming weeks, we will learn more about how the cap will work in practice, for instance whether it will be operated on a monthly or an annual basis. We would prefer to see a monthly system, which would avoid the long ‘closed’ periods that have affected companies in the US.”