UK immigration
a barrier to
London’s growth
21 January 2015
Heralded as the most significant business-led consultation project ever undertaken to help drive jobs and growth in a UK city, a new study which focusses on London’s future as an economic powerhouse has named UK immigration as one of its three main target areas.
London 2036: An Agenda for Jobs and Growth was produced by First London on behalf of the London Enterprise Panel (the Mayor’s business advisory panel). A number of competitor cities from around the globe have already developed similar plans, including New York, Rio and Hong Kong, but London will be the first UK city to follow suit.
According to the study, which was launched last week at an event attended by more than 200 business leaders and UK government representatives, London should focus on improving the following three key areas:
- Strengthening London’s voice in national politics on topics such as immigration and the UK’s relationship with Europe;
- Increasing the focus on emerging markets by developing new approaches to win investment, business, visitors and students from emerging markets starting with Asia; and
- Improving global access by accelerating the creation of aviation capacity in the South East and improving the visa system for global visitors.
The major obstacles that the agenda identifies as preventing London from achieving these aims include the UK’s attitude to immigration and the country’s relationship with the EU. Unless the UK’s current approach to immigration changes, First London is warning that the country is at risk of deterring vital overseas investment and business, as well as students, skilled workers and visitors from abroad.
The technology sector is identified as facing one of the biggest risks should the UK continue with its hard-faced approach towards immigration. The extraordinary rise of London’s tech industry is set to continue and yet it is already encountering vast shortages of skilled UK workers. According to the report, technology entrepreneurs have identified this talent shortage as the single biggest barrier to the industry’s growth and advises that, whilst foreign workers are welcomed, home-grown talent should also be encouraged.
“London has the potential to be the largest technology and creative cluster in the world and the best place for fast growing firms, but we need to make changes if this is going to happen.” – John Dicke, Director of Stratgey at London First
Despite praising London for its success so far in becoming the city where ‘global business can find talent and where global talent can find opportunity’, the message contained in the agenda is quite clear. London cannot afford to be complacent in a world where cities and their systems are constantly evolving. In order to ensure that London continues to attract the very best in investment and talent, the UK must change its approach towards immigration.
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