Fears about immigration restrictions are a pressing concern for financial firms, even after expectations for Brexit to happen this week began to fall away. Almost two thirds of such firms are reviewing the travel and working arrangements of staff between Britain and the European Union, EY has said. Seema Farazi, the accounting group’s head of financial services immigration, said that it had come as “no surprise” that immigration was a key fear, “as employers and employees alike become increasingly nervous about what Brexit will mean for their status. Whether we are in day one Brexit or an extension in this coming week, we would urge firms to be finalising immigration plans for all scenarios.” In a survey last week of 163 companies with operations and
Post-Brexit staff travel and working arrangements are being reviewed by 163 of financial companies, according to EY, which said firms should complete immigration plans for all potential outcomes. It also said the firms needed to prepare for a no-deal departure. The firm said only 8% of financial firms responding to its survey expected Brexit on 31 October, with 3% forecasting a deal and 8% a no-deal exit. Among the almost two-thirds firms surveyed, 45% said a new deal would improve cross-border access and 12% said there would be no special access to the markets of member states after Brexit.