Government Estimates Changes To Visa Categories Will Cost Businesses Over £40 Billion

The UK's crackdown on immigration, specifically on international students and overseas skilled and health & care workers, is projected to cost businesses over £40 billion in exchange for no overall economic benefit to Britain, a Home Office impact assessment determined.

The Home Office estimates that the rule changes on sponsoring visas for skilled workers, which took effect in April, will come at a £37.4 billion cost for businesses. Such significant costs are due to the fact that much higher salaries will be required to hire the same workers. Despite the savings associated with lower spending on public services, there is still an anticipated net economic cost of £25.6 billion.

The education sector is also expected to take a significant hit. By curtailing international students from bringing family members with them during their course of study at UK universities, it is predicted that the losses will be almost £5 billion in tuition fees and £15 billion in foregone