Immigration Rhetoric Threatens UK’s Status as Financial Center: Lloyd’s Chairman

By | October 11, 2016

Lloyd’s of London Chairman John Nelson said the government’s rhetoric on immigration threatens to hurt the U.K.’s status as a global center for finance.

“We need to make sure we keep the U.K. very open in terms of inward investment, perhaps most importantly making sure we’re able to attract the right talent globally,” Nelson told a conference in London on Tuesday. “The rest of the world is looking at us very, very closely right now.”

Home Secretary Amber Rudd last week ran into criticism after calling on companies to do more to monitor the number of foreign workers on their payrolls. Her department subsequently said there was no plan to publish the staff records.

“We have to be careful we keep the U.K. very much open,” Nelson said.

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