The subject of immigration was a core theme during the 2016 Brexit referendum campaign. Six years on and the topic still sparks fierce debate. Now, politicians speak about the need to 'wean' the UK economy off migrant labour. At the same time, however, there is cross-party recognition that Britain still needs to attract skilled foreign labour. It's a delicate balance for policy makers.
So, what do the government plan to do to encourage skilled workers to the UK? A points-based system similar to Australia's model has come into force. But amid predictions that we'll see net migration decline in the coming years, more needs to be done to pull the UK out of recession –and back to economic growth. For business leaders, migration is a key part of that.
The current employment situation
In recent months, numerous sectors have been affected by what can be seen as a perfect storm of conditions. The lingering impact of Brexit and Covid-19 has combined with a shortage in lorry drivers, sky-high inflation, and a slump in consumer confidence. For the government, an answer has been to promote innovation as a means of driving productivity and prosperity.
As such, the 2021 UK Innovation Strategy laid out plans to establish the UK as a 'global hub' for innovation. One of the key facets of that is attracting the talent that can make it happen.
The pulling power of innovation?
In terms of the People element, the strategy outlines two clear actions that are designed to help the government reach its ambitions. One action is to help thousands of senior SME managers to boost their business growth and resilience. The second is to reform visa application routes – and make it easier for skilled talent and innovators to settle in the UK.
Lowering visa requirements
First and foremost, this means a refresh of the Innovator Visa programme. The intention of this scheme is to attract those who want to set up an "innovative" business in the UK. It must be an original idea and it must not be something that already exists. But one condition no longer part of the eligibility criteria is the need to have a minimum of £50,000 in investment funds.
Harnessing graduates' potential
The UK government aims to recognise the potential that recently graduated individuals have. As such, the High Potential Individual route offers someone a chance to settle in the UK for at least two years if they graduated from a "top" university. Unlike some other immigration routes open to innovators, employers don't need a sponsor licence and applicants don't need a job offer.
A visa scheme for growing businesses
A third reform to the UK's visa routes is with the Scale-up Worker Visa. For applicants, this is a scheme where they can get a visa if they're coming to work for an eligible employer. And to be one of those, a business must meet certain Home Office criteria. Specifically, an employer must have grown its sales or employment by 20% on average on an annual basis.
For the government, changes to these visa routes – along with other actions outlined in the UK 2021 Innovation Strategy – are going to be integral to attracting skilled workers to the country. One of the key questions will be whether it goes far enough. Another is whether is does enough to ensure that Britain is well-positioned to emerge from recession and return to growth.
