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Written question asked by Lord Hintze (Conservative) on Wednesday, 21 January 2026, in the House of Lords. It was due for an answer on Wednesday, 4 February 2026. It was answered by Lord Livermore (Labour) on Wednesday, 4 February 2026 on behalf of the Treasury.

Emigration: Financial Services and Health Services

Question

To ask His Majesty's Government what assessment they have made of the implications for the UK economy of people employed in the (1) medical, and (2) financial, sectors migrating out of the UK.

Answer

The government recognises the importance of international talent to key growth sectors and is therefore sending a clear and confident signal: that we welcome the world’s best minds to help us drive our Industrial Strategy and wider growth mission, and that they will find the environment, support and opportunities they need to thrive here.

The government will publish an NHS 10 Year Workforce Plan in the Spring. This will set out plans to ensure there is a sustainable medical workforce, as well how we will act on retention, productivity, training and attrition with the ambition to reduce international recruitment to less than 10% by 2035.

The government also set out its plans to attract the right talent and develop the right skills for the financial services sector as part of the Financial Services Growth and Competitiveness Strategy, published in July 2025 at Mansion House.

Secondary information

Type
Written question
Reference
HL13787
Session
2024-26
Subjects
Health services Financial services Economic situation Emigration
Link
View this Written question on www.parliament.uk