UK Opens Doors to Overseas Talent as US Tightens Visa Rules
The UK is set to make it easier for foreign workers to enter the country, in a direct contrast to the US, which has increased the cost of skilled-worker permits. Chancellor Rachel Reeves announced plans to double the number of high-skilled foreign worker visas to around 18,000 per year.
Timeline and Details
On Friday, US President Donald Trump introduced a 50-fold hike in the cost of skilled-worker permits to $100,000, sparking confusion among tech firms. The UK's move comes after a 150 billion tech deal with the US during Trump's second state visit. Reeves made the comments at the opening of fintech giant Revolut's new global headquarters in Canary Wharf.
Immediate Impact and Response
The decision is expected to boost the UK economy, particularly in the tech sector. Revolut, which has pledged to invest £3 billion in the UK and create 1,000 new jobs, welcomed the move. "We're excited about the government's commitment to attracting global talent," said a spokesperson.
Background Context
The UK's decision is seen as a response to the US's tightening of visa rules. The BBC understands that the government wants to attract more skilled workers to fill labor gaps and drive innovation.
What Happens Next
The exact details of the new visa policy are yet to be announced, but it is expected to come into effect soon. The move is likely to be met with mixed reactions from businesses and politicians, with some arguing that it will help boost the economy while others raise concerns about immigration.
*This story is developing. Information compiled from Bbc reporting.*
