New visa rules may affect financial talent import from India

July 4th, 2008 - 8:33 pm ICT by IANS  

London, July 4 (IANS) British financial employers express worries that the new points-based system for migrant workers may affect import of skilled talent from countries like India. Such a situation can even reduce London’s competitiveness as a global financial centre, they believe, according to the Financial Times.

The City government asks the finance industry not to worry, saying the new rules do not undermine international talent and come September, the government would convene a working group to sort out migration matters.

Employers in the Square Mile (the heart of London) met at a breakfast summit with City officials to register their complaints about the new visa system. They fear that the system could make it harder for them to bring staff to London from their overseas offices and to recruit talented people who could bring different perspectives to the City.

One investment banker said the requirement for skilled migrants to earn more than

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