Influencing The UK’s Future Migration System

This week we responded to the Migration Advisory Committee’s (MAC) call for evidence on salary thresholds and a points-based visa system, which will inform the Government’s future migration policy.

We know that the ability to hire high-skilled workers from overseas through periods of high growth is an issue for many of our members. Our consultation response made the case for a scale-up visa, that allows high growth companies in the scale-up phase to fast-track essential hires from overseas during times of rapid expansion.

We also recommended that the MAC consider more flexibility in any future salary thresholds to account for employee share schemes, graduate hires or hires outside of London.

The Government has already committed to removing the Tier 2 visa cap and resident labour market test, and we know anecdotally that many members are seeing the positive effects of this announcement on an informal basis. Our response reiterated the need for the Home Office to formalise this policy change as soon as possible so that businesses have certainty.

The MAC is due to provide a series of recommendations on a future migration system to the Government by the end of January next year. Following that, the Home Office has committed to finalising the details of the new system by the Spring, to allow time for implementation ahead of the end of the Brexit transition period in December 2020.

These timelines are obviously dependent on the outcome of the forthcoming General Election, and the plans of a future government. Nevertheless, we will continue to make the case for an immigration system that is quick, cost-effective, easy to navigate, and helps to attract high-skilled workers from across the globe to work in the UK FinTech sector.