BUSINESSES have welcomed an exemption for high earners from a government immigration cap due to come into force in April.
Bankers, lawyers and other highly-paid workers who earn over £150,000 per year will not be subject to the limit.
Head of employment policy at the CBI, the employers’ organisation Neil Carberry said: “This announcement of new rules for the immigration cap confirms the government’s welcome decision to prioritise skilled workers.
“The government is right to be putting the emphasis on the most economically beneficial part of the system.” The British Chambers of Commerce also welcomed the news.
Under the new rules, employers will have to apply for a certificate of sponsorship if they wish to bring someone to the UK. An annual limit of 20,700 visas will be made available to skilled workers, whilst an extra 1,000 visas will be made available for “exceptional talent”.
Firms will also be able to apply for intra-company transfers for staff paid more than £40,000 or more for a maximum of five years.
Transferred employees who earn between £24,000 and £40,000 per year will be allowed to stay for one year only.
Immigration minister Damian Green said: “Britain will benefit from migration provided it is controlled and directed towards improving our economy.”