The UK could lose one third of its foreign workforce
Deloitte warns of a post-Brexit 'brain drain' over the next five years
by Abi Moses on 28th June, 2017
Business advisory firm, Deloitte, have warned that the UK could be set to lose up to one third of its entire foreign workforce over the next five years as the harsh reality of Brexit takes a hold of the UK economy.
The recent study conducted by Deloitte suggests that the attitude amongst the UK's existing foreign workforce has shifted since last year's referendum and could lead to as many as 1.2m workers leaving for the Brussels bloc.
Deloitte North West Europe's senior partner and chief executive, David Sproul, claimed that "The UK remains a highly attractive place to work for people from around the world. Despite political and economic uncertainties, more people are attracted to live and work in the UK than anywhere else in the world. Nine out of 10 overseas workers would consider moving to the UK if the right opportunity presents itself. "
Mr Sproul continued, "The UK's cultural diversity, employment opportunities and quality of life are assets that continue to attract the world's best and brightest people. But overseas workers, especially those from the EU, tell us they are more likely to leave the UK than before. That points to a short to medium term skills deficit that can be met in part by upskilling our domestic workforce but which would also benefit from an immigration system that is attuned to the needs of the economy."
Deloitte vice chairman, Angus Knowles-Cutler, claimed "Brexit does not change the fundamental factors shaping this but has altered calculations on how to drive change for best advantage. If immigration and upskilling can help fill higher skill roles, automation can help to reduce reliance in lower skill positions."
Keep up to date on Brexit developments and the impact they have on all global currencies and markets by visiting the Spread Betting homepage. To trade between the Pound and Euro simply sign up with any Spread Betting broker today.
Sky shares on the rise amid intense takeover talks
by Abi Moses on 25th April, 2018
Cloud storage business recreated Snap IPO
by Abi Moses on 28th March, 2018
The world's first whiskey Cryptocurrency has landed
by Abi Moses on 26th March, 2018
Soft drinks giant to tackle growing Japanese 'alcopop' market
by Abi Moses on 7th March, 2018