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« Waugh's Declared | Main | Are the Lamps Going Out? »

Monday, 13 June 2016

Comments

Alex

City FFEs were the ones I was thinking of.

Regarding points systems, you can fix them any way you see fit, but you can only fix them so that you get in if you get =>X points. That's the defining criterion of a points system.

Paul M. Cray

We don't know what points system Gove might pluck out of his arse. It may not bear the much resemblance to the Australian system. For instance, people from certain countries might be automatically excluded on the grounds that those countries have been historically overrrepresented in immigration to the UK and it is desired to balance this with immigration from countries less represented. If you're Polish, you might be excluded from te pointssystem.

In practice, there are going to be several different classes of visas as at present. If you are a French quant, you can probably get sponsored by your bank, but that is going to harder if you are a Bulgarian barista. And companies could be required to post a bond (say, £50k or £100k) for each visa they are awarded.

There are lots of ways of restricting the level of immigration if you want to. The question is whether Gove/Johnson would really want to once they have managed their Libertopian coup or would be able to with inflicting even more damage on the economy and particularly the City. Bromsgrove Man/Worcester Woman doesn't really care or know anything about French quants in Canary Wharf, so they would probably still get let in. It will be interesting (for certain values of "interesting") to see whether French quants might prefer Paris, Frankfurt, Zurich or even Edinburgh or King Abdullah Economic City in the future. Will Gove/Johnson declare the City a Special Economic Zone with, for instance, lower tax as a way of trying to reduce flight from the engine of the British (or, as it will be, English) economy.

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