NEWS


Keep up-to-date with the latest news and views on the potential aftermath of leaving the EU without a deal, with a focus on immigration, freedom of movement and workforce planning.


LORD BILIMORIA URGES REFORM OF IMMIGRATION PLANS


The well-respected, independent Crossbench Peer Lord Bilimoria is insisting the UK government must scrap its proposal for a £30,000 salary threshold for skilled immigrants coming to Britain after Brexit, according to the president- designate of the Confederation of British Industry (CBI). Indian-born Lord Bilimoria - the Cobra


Beer founder and a long-time critic of the UK’s immigration system - described the minimum salary requirement as “impractical” if British companies wanted to continue to attract skills from around the world after the nation leaves the EU. He told The Sunday Times, “An open economy


like Britain has had access to the best talent from around the world, including the European Union. The public sector wouldn’t survive without them: there are 130,000 EU workers in the NHS and care sector alone.” The Crossbench Peer, who is opposed to Brexit,


said the salary threshold would particularly affect the construction and leisure industries in being able to attract the overseas skills they needed.


To read the full article, visit bit.ly/lord-bilimoria-urges- immigration-reform-ds


ECB TELLS BANKS TO ‘STEP UP’ BREXIT RELOCATIONS


London-based banks have been urged by the European Central Bank (ECB) to increase the number of staff they are relocating to hubs in the eurozone in case the UK leaves the EU without a deal. Since Boris Johnson became Prime Minister, the chances of a no-deal


Brexit appear to have increased with the promise to leave the bloc on 31 October “do or die”. In the immediate aftermath of the Brexit referendum three years ago,


London-based banks were expected to shift posts to the continent in their thousands. In fact, the count so far has only been in the several hundreds. The main problem for the financial sector is that, in the event of a no-deal Brexit, UK-based institutions will lose the ‘passporting rights’ that currently allow them to operate freely throughout the EU. In a statement, the ECB said, “While the risks posed by a no-deal Brexit


to overall euro area financial stability would be manageable, the ECB expects banks to continue preparing for all possible contingencies. So far, banks have transferred significantly fewer activities, critical functions and staff to euro area entities than originally foreseen as part of their plans for Brexit day one. Looking ahead, the ECB sees a risk that, as a result of the delays observed, banks will not be able to fully implement their target operating models within the timelines agreed with their supervisors.” Conor Lawlor, director of international and Brexit policy at UK Finance,


the body representing more than 250 firms across the sector, added, “There remain a number of mitigating measures that could be taken by EU authorities to minimise disruption for firms and their customers on both sides of the Channel. This should include clarifying that UK-based lenders will be able to continue serving their customers in Europe for a limited period in a no-deal scenario.”


To read the full article, visit bit.ly/ecb-tells-banks-step-up- brexit-relocations


ONLINE REFERENCES


Media factsheet: EU citizens and freedom of movement On its blog, the Home Office has produced a factsheet that answers questions about Brexit and aims to clarify the rights of EU citizens resident in the UK after we leave the European Union (EU).


What do employers need to do about ‘no-deal’ Brexit? The CIPD considers the implications for employers if the UK leaves the EU without a deal and offers guidance on workforce planning, for employers and HR professionals.


To read the articles above, visit bit.ly/home-office-eu- media-factsheet and bit.ly/cipd-no-deal-brexit


BANKS AND FINANCIAL SECTOR RELOCATIONS EXPECTED TO:


Amsterdam, Brussels, Dublin, Frankfurt, Luxembourg, Madrid, Milan, Paris


ON THE CARDS TO SEE EXPANSION:


Stockholm, Warsaw


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