HOT TOPIC
Brexit beyond Europe Outside Europe, however, some see Brexit as an opportunity to enhance the opportunities of non-EU nationals to work in the UK. Under the existing Tier 2 visa system, not only are the numbers limited and the costs for both employers and overseas employees recently increased, but – since April – anyone failing to earn more than £35,000 a year after six years in the UK must return to his or her country of origin. The Indian government made a formal protest to the Foreign
Office in London in the summer over the changes. Now, Malcolm Turnbull, the Australian Prime Minister, and John Key, his New Zealand counterpart, are working on a “co-operative framework in which Australia and New Zealand can work together to ensure that they maximise any opportunities that arise as a result of Brexit”. Mr Turnbull said, “Australia and New Zealand could work together on joint free trade and visa agreements to steer the region through the shockwaves of Britain's exit.” Alexander Downer, the Australian high commissioner in London
and a long-time critic of the Tier 2 system, explained in a radio interview with the Australian Broadcasting Corporation, “As a representative of the Australian government in the UK, my job is to seek opportunities amid the Brexit fallout. While the implications of the break-up for Australia remain to be seen, I pledge to seize on the transition as an opportunity to address restrictions on working visas. “Right now, numerous restrictions exist preventing many
Australians from living and working in the UK. Whether there'll be opportunities to change that when the Brexit arrangements come into place, we simply don't know. But we should try in any case, and that's what we'll do.” Behind such sentiments is a widely-held belief that an end to
free movement of people from the EU into Britain will lead to the UK adopting a less restrictive visa system for workers regardless of their country of origin. There remains a severe skills shortage in all sorts of sectors in the UK, from engineering to construction, health services and finance, and without a steady stream of talent from abroad, few can see how healthy economic growth can be maintained.
put projects on hold amid the uncertainty following the referendum result. Mrs May herself did
little to boost confidence by delaying plans for a French-Chinese consortium to build Hinkley Point nuclear power station and by further delaying a decision on whether additional and much- needed runway capacity in south-east England should be located at Heathrow or Gatwick airport. Michael Dall, chief economist at Barbour ABI, has urged
the government to take advantage of historically low interest rates and invest in major new infrastructure projects that could play a “pivotal role” in boosting economic performance and creating employment opportunities. “While this is at odds with the austerity agenda of the previous administration, it is one of the few tools the government has available to boost the economy,” he said. Yet the skills gap that looks bound to widen after the UK's
divorce from the EU still has to be addressed. “Unfortunately, it doesn’t seem as if the skills gap will be at the top of the political agenda any time soon, and over the long term this could be extremely detrimental to the national economy,” says Adam McGiveron, partner and advanced manufacturing sector head at law firm Shakespeare Martineau. “The decision to leave the EU without doubt poses a serious
problem for talent acquisition, as many businesses source much- needed talent from the EU. Adapting to marketplace changes as and when new agreements are made will be needed to overcome the ramifications of the Brexit vote. “Many businesses rely heavily on imported labour because it is
the only way to access people with the necessary and appropriate skillset for certain fields of work. If replacement measures aren’t sought swiftly by the government, business owners believe that overseas workers might see no future in British manufacturing and seek employment elsewhere.” And if all this were not enough, the government also faces
the possibility of a second independence referendum in Scotland, which voted substantially in favour of remaining in the EU and where the ruling Scottish Nationalists are holding out the prospect of another independence vote if the outcome of the Brexit negotiations does not turn out to their liking. Mrs May says of those negotiations, “We will be looking at
the next steps that we need to take, and we will also be looking at the opportunities that are now open to us as we forge a new role for the UK in the world. We must be clear that we are going to make a success of it – that means no second referendum, no attempts to sort of stay in the EU by the back door – that we are actually going to deliver on it.” Brexit, she insists, means Brexit. But, until 2019 at the earliest, nobody will really know what Brexit means.
Boosting economic performance Prime Minister May has put infrastructure at the heart of her post-Brexit plans to rebuild the economy, but the value of contracts over the summer dropped substantially, according to Barbour ABI, the construction consultancy that supplies figures to the Office for National Statistics, mainly because the public and private sectors
For news and expert comment on Brexit, plus advice and resources on all aspects of global mobility and relocation, visit
relocateglobal.com
relocateglobal.com | 9
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68
