UK Immigration is a UK Success Story
The Office for National Statistics revealed the latest immigration figures this month, with a new record net migration of 330,000[i]. BritishAmerican Business believes that these numbers strongly reflect the success of the UK economy and the point not be lost in discussions about policy responses to the numbers. The policies designed to cut down non-EU immigration thus have the potential to damage the UK economy. They will also impact the UK-US economic relationship – a driver for this success – as many non-EU immigrants are US citizens whose skills are often in high demand as catalysts for innovation and productivity accelerators for British businesses.
LONDON, 30 September 2015
According to the Transatlantic Economy 2015 survey on jobs and trade and investment between the United States and Europe, US firms have invested more in the UK ($396 billion) than in South and Central America, the Middle East and Africa combined since the year 2000.
Attracting and retaining skilled workers from an international pool of talented professionals is a key component in creating a successful economy. For the UK and the US in particular, our history of immigration has been closely tied to the economic success of our nations and the role played by immigrants.
The current review of the Tier 2 visa category, including both the general and intra-company transfer (ICT) visa routes, could limit US and UK companies’ ability to bring skilled US citizen employees to the UK on temporary assignments. This would have a negative impact on US company operations and hurt the UK’s reputation as being ‘Open for Business’ and open to the brightest individuals from around the world.
Jeffries Briginshaw, CEO of BritishAmerican Business said “As a transatlantic business community we see the movement of skilled workers between the UK and the US as a really important driving force underpinning the past, present and future success of our economic relationship. We, of course, understand the absolute need for security to be guaranteed and acknowledge the strain on public infrastructure that can occur when there is unchecked immigration. But equally, we are in favor of immigration reforms that will encourage further investment into the UK economy and allow the UK and our citizens to take advantage of a globalised world economy.”
Notes to Editors:
About BritishAmerican Business
BAB is the leading transatlantic business organization, dedicated to helping companies build their business on both sides of the Atlantic. Its membership brings together the world’s leading multinational and middle market companies across sectors and geographies; and more than 100 of the world’s most successful CEOs support its work through their participation in its Advisory Board. It incorporates the American Chamber of Commerce (UK) and the British-American Chamber of Commerce (USA), which merged in 2000 to create a single, pre-eminent transatlantic organization that could support its members across the Atlantic.
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