Post-Brexit backlogs, increased costs, and complex rules are hampering UK businesses seeking to bring in overseas talent for short-term projects and training, according to TheCityUK.
The financial and related professional services industry is calling for reforms to the UK’s short-term business mobility rules, specifically Intra-Corporate Transferees (ICT), to allow firms in the UK to bring over existing overseas employees for short-term productive activity without needing a work visa.
In a new paper, ‘How to strengthen the UK’s short term mobility system,’ TheCityUK, building on previous work, argues that access to talent, homegrown and international, is crucial to unlocking new areas of innovation. The paper sets out how the current system is limiting firms’ ability to leverage their global talent networks to support export opportunities and innovation and hampering wider UK plans to become an attractive hub for highly-skilled international talent.
Ahead of the Chancellor’s autumn statement, TheCityUK has published a series of recommendations to drive economic growth and ensure the continued resilience and competitiveness of the UK as a world-leading international financial centre.