Half of London businesses say cutting migration would hit the capital's economic growth

Mark Sands
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The UK voted to leave the European Union on 23 June. (Source: Getty)

Cutting immigration into the UK would have a negative impact on London's economic growth, according to just over half of the capital's businesses.

A survey of just over 500 firms by the London Chamber of Commerce and Innovation in November found 52 per cent warning against barriers for new migrants coming into the city.

And three in five firms similarly said London should prioritise growth, even if that means increasing EU migration.

Prime Minister Theresa May has repeatedly made clear that tackling migration will be a key response to last summer's Brexit vote, but the capital voted strongly to remain in the EU.

Read More: The London visa: Why the capital should copy Canada

And since the referendum, London businesses have repeatedly expressed concern over the loss of access to talent, with both the LCCI and the City of London Corporation drafting plans for London-focused visa regimes.

Such proposals were endorsed by a group of more than 20 MPs and peers last week, who called for immigration rules to be dictated at a local level.

LCCI chief executive Colin Stanbridge said: “It has become increasingly clear since the Referendum how much the London economy relies on immigrant workers,”

He added: “We renew calls on the Government to future-proof our economy by ensuring the status of EU nationals currently working in the capital and looking at options for those coming to work here in the future.”

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