In a clear allusion to a recent change in US visa policy, the chancellor stated that the UK will make it simpler to draw in international talent at a time when the US is making it more difficult. The announcement by US President Donald Trump on Friday that skilled-worker licenses would now cost $100,000 (£74,000), a fifty-fold increase, confused employees of US IT companies who hurried back to the United States.
We want to make it simpler to attract talent to the UK, despite President Trump declaring last week that it would be more challenging to do so in the US. On Tuesday, Rachel Reeves stated. According to the BBC, the government intends to quadruple the number of visas granted to highly educated foreign workers, reaching about 18,000 annually.
Reeves’ remarks follow the UK’s announcement during Trump’s second state visit of a £150 billion technology pact with the US. As Reeves spoke, the fintech behemoth Revolut announced plans to invest £3 billion in the UK and add 1,000 new jobs at the launch of its new global headquarters in Canary Wharf. The company serves as a test case for the government’s plans to reduce regulatory obstacles for rapidly expanding global businesses.
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