Nearly three in four UK financial services firms say cutting skilled migration will hurt the economy

Lauren Fedor
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Nearly three in four firms said they were worried visa changes would affect their ability to attract top talent (Source: Getty)

Britain's financial services companies are overwhelmingly worried that proposed changes to visas for non-European Union workers will make it difficult to attract top talent.

A new survey out today from the Chartered Institute for Securities & Investment (CISI) found that 73 per cent of finance workers think that the government’s plans to reduce the number of non-EU workers would hurt the British economy in the long term and hinder the financial industry’s efforts to employ the best global talent.

CISI chief executive Simon Culhane said: “London’s foundation as an attractive, international financial services centre has been built over the years by the same global talent pool the government is now trying to drain.”

After the General Election in May, Prime Minister David Cameron asked the Migration Advisory Committee to look at proposals to cut migration to the UK from outside the European Economic Area (EEA), including raising salary thresholds for skilled workers on so-called Tier 2 visas.

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