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On Wednesday, the UK Chancellor Rachel Reeves will be urged to increase the rules that hinder the employment of foreign talent by financial groups, as London joins a more open approach to enhance growth.
Reeves will meet the heads of leading banks in Britain as part of the efforts made to extract a new industrial strategy, but its increasingly abstinence will be increasingly met: the economy needs more highly skilled workers.
“The UK is in a high -quality talent competition,” said Miles Celkik, CEO of the Lobby Thikitic Group. “It is important to continue to reduce the red tape about bringing high -quality individuals to the United Kingdom.”
The demand for more external talents is a problem for the government of the Labor Party of Mr. Kerr Starmer, which is also promising to reduce immigration and face fierce political pressure From UK reform.
Reeves and Jonathan Reynolds, Minister of Business, develops an industrial strategy covering eight sectors, including financial services, such as growth policy.
But the officials working in the strategy said that a number of sectors, from banking services to technology and life, are providing similar demands from the ministers. “There are major issues about skills and visas,” said one of the officials.
The House of Lords Sciences at the House of Lords said this month that the United Kingdom is committing a “harmful act” because high visa fees and the unfair immigration system determine the first science students and professional researchers.
Reeves will host the heads of banks including HSBC, LLOYDS, Barclays, Santander UK and NatWest to discuss a strategy to enhance financial services, with immigration, organization and taxes on the agenda.
Among the requests for Reeves to accelerate the reforms to the “big managers system”, the rules that were submitted after a 2008 crash were submitted, which were said to deter some bankers from coming to London.
Since 2016, the regime has forced senior bank executives, and to build credit societies and federations to assume personal responsibility for violations if they did not take “reasonable steps” to prevent them. The penalties range from fines to ban.
The United Kingdom, which represents 300 companies in this sector, said the system seized “large areas of people and compliance have become very stressful.”
The Treasury said that it would respond to an “invitation to obtain evidence” to reform the system soon and that it “will provide a simplified list that limits the burdens on the industry while maintaining appropriate protection.”
He added: “We will consult on whether the current certification system will be replaced so that companies still guarantee that the employees concerned are appropriate and appropriate, but the requirements are less tense.”
The United Kingdom said it is also pressure on Reeves to make reforms to impose banking taxes and simplify the organization and requires social media companies, technology and communications participating with banks the burden of fraud.
The industrial strategy, which is scheduled to be completed in the spring, covers eight sectors: financial services, professional and commercial services, life sciences, creative industries, defense, technology, advanced manufacturing, and clean energy.
Reeves said at the World Economic Forum in Davos last month that “it will again look at the ways to the highest skilled people” and sorting visas in the areas of artificial intelligence and life sciences.
Companies can employ employees from abroad under the skilled workers visa plan in the home office; There was 50,900 major applications Between April and 2024, less than 6 percent than the same period in 2023.
Last year, HSBC was among the major British companies that withdraw job offers to foreign graduates after the previous conservative government raised the salary threshold for skilled workers’ visas to 38,700 pounds. The work has kept the higher threshold.
“I am committed to working alongside the industry to ensure that our plans were enlightened by those who provide and benefit financial services,” said Reeves, who announced her dialogue with the financial services sector last month.