The UK government assured foreign investors that the proposed caps on immigration for economic migrants will not hurt companies seeking to do business in UK, and any changes to the takeover laws will not single out foreign investors.
“The policy will be managed to make sure that foreign investors interests are not harmed,” said secretary of state Vince Cable, at an event announcing UK’s national FDI figures. “The new government was expected to demonstrate that it was managing immigration. We are aware that foreign investors need to bring in high level managers, skills, and have intra-company transfers,” in a first such assurance that overseas investors are not hit by immigration caps. He also clarified that while the independent takeover panel is in the process of reviewing UK’s takeover laws, which were “too permissive in the past, the changes will not be enormous, and it will affect both domestic and foreign companies in the same way.”
The new government has committed to cut non-EU economic migration to ‘thousands’, but a mechanism to implement this policy has yet to be worked out. UK’s takeover laws are currently being tightened, after widespread criticism of the Kraft-Cadbury takeover, which resulted in massive job losses in the UK.