UK is open to overseas talent unlike US, Reeves says
Summary
The UK plans to make it easier for skilled workers from other countries to work there, while the US recently increased the cost of skilled-worker visas. This change comes as the UK announces a large tech investment deal and supports the entry of global talent to boost economic growth. Revolut, a major fintech company, is at the center of the UK’s efforts to attract foreign businesses.Key Facts
- The UK government plans to double the number of high-skilled foreign worker visas from 6,500 to 13,000 annually.
- US President Donald Trump announced a significant increase in the cost of skilled-worker visas to $100,000.
- The UK government aims to attract global talent, especially in the tech industry, following a £150 billion tech deal with the US.
- Revolut, with a valuation of $75 billion, plans to invest £3 billion in the UK and create 1,000 new jobs.
- Revolut still lacks a full UK banking license but holds a provisional one.
- The company has faced past criticism over fraud issues but claims to have strong measures in place.
- Rachel Reeves, a UK official, emphasized the UK’s open approach to global talent during a speech at Revolut’s new headquarters.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.