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Government is capping economic growth, capping UK jobs and capping tax receipts

Responding to Theresa May’s announcement on the Government’s immigration cap:

Business group London First gave a less than ecstatic response to today’s immigration cap announcement.

Baroness Jo Valentine CEO of London First – a not for profit business group whose members include many of the capital’s biggest employers – said:

“What the Home Secretary set out was less bad than our worst nightmare, but business certainly will not be throwing a celebratory party.

“The exemption of intra-company transfers (for employees earning more than £40,000 a year) from the new cap is welcomed. Global businesses should not face limits on moving staff around their international offices, to where they can add most value.

“But in limiting the number of skilled migrants which business can recruit, to the numbers they needed at the depths of the recession, Government is basically capping economic growth, capping UK jobs and capping tax receipts. This is a strange route to take to paying down the deficit.

“Government seems to be saying: ‘if your business is flourishing, please grow it outside the UK’.”

Ends

Notes to Editors

London First is a business membership organisation with a mission to make London the best city in the world in which to do business. London First undertakes this by mobilising the experience, expertise and enthusiasm of the private sector to develop practical solutions to the challenges facing London. London First also seeks to persuade central and London government to make the investments that London needs in its infrastructure

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