Points-based immigration: a drag on UK growth?

According to the newly released Deloitte CFO Survey, a net 74 percent of Chief Financial Officers at some of the UK's largest companies do not expect Brexit to cause a long-term increase in the levels of high-skilled immigration from the EU into the country.

As part of the UK's exit from the European Union, it has implemented a points-based system of immigration inspired by that in Australia. As described on the government's website, "under the system, anyone coming to the UK for work must meet a specific set of requirements for which they will score points. Visas are then awarded to those who gain enough points."

While the government says this "provides flexible arrangements for UK employers to recruit skilled workers from around the world", CFOs clearly remain sceptical about the positive effects this will have on the UK's long-term economic growth. As our infographic shows, 61 percent of those surveyed said they think it will even act as somewhat of a drag on growth, with an additional 6 percent saying it will be a significant negative factor going forward.