Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Government urged to disclose how £1.5bn raised from migrant employment tax to train UK workers is being spent

by September 19, 2023
September 19, 2023
Government urged to disclose how £1.5bn raised from migrant employment tax to train UK workers is being spent

The Immigration Skills Charge – a scheme to train UK workers using money from a levy on businesses hiring skilled migrants – has raised almost £1.5 billion, though how it is used remains unclear, the Social Market Foundation think tank has discovered.

Numbers just published by the government reveal that the Immigration Skills Charge (ISC) generated £586 million in 2022/23, bringing the cumulative total raised since its introduction six years ago to £1.47 billion.

Under the scheme, medium and large employers sponsoring skilled foreign workers coming to the UK for more than a six-month period are charged on average £1,000 per worker in order to fund the training of the domestic workforce of tomorrow.

The proceeds from the charge have substantially increased in the last couple of years as hiring of overseas workers has rebounded very strongly post-pandemic, and post-Brexit the charge now applies to sponsoring of EU as well as non-EU workers.

Yet with no explanation of how the money is used, the SMF is calling on government to ‘use it or lose it’ – clarify how it is being invested to support the domestic skills base, or drop the charge entirely.

In a piece published today, the think tank argues that the current lack of transparency over how the proceeds are used is a huge missed opportunity to build public trust in the fairness of the UK’s work immigration system, by demonstrating and publicising that the benefits of immigration are being widely shared to benefit all of society.

Jonathan Thomas, SMF Senior Fellow, said: “The purpose and positive potential of the ISC is that the proceeds of a charge paid by employers to sponsor a skilled overseas worker today are used to train the local workforce of tomorrow. But there is no evidence that this is happening. It is totally unclear how the money raised is being used.”

“Using the proceeds of the Immigration Skills Charge for their proper purpose, and clearly accounting to the British public for that, is a perfect opportunity to counter the sense that hiring overseas workers leaves local talent overlooked and local training under-developed, instead showing that the overseas and domestic skills base can be mutually supportive and work in tandem.”

Read more:
Government urged to disclose how £1.5bn raised from migrant employment tax to train UK workers is being spent

0
FacebookTwitterGoogle +Pinterest
previous post
AI surge may not have positive outcome, warns UK competition watchdog
next post
Dem Rep Jennifer Wexton will not seek re-election after ‘Parkinson’s on steroids’ diagnosis

You may also like

Weight-loss drug firm becomes Europe’s most valuable

September 6, 2023

Ryanair CEO Michael O’Leary qualifies for €100m bonus...

May 30, 2025

Energy Bills to Drop by £122 from July...

May 24, 2024

Secrets of Success: Marcus Brew, MD at UNTHA...

September 20, 2023

Asda Reports Sales Slowdown Despite Loyalty Scheme Success

April 22, 2024

Most profitable businesses in the UK

May 10, 2023

Spending Review must prioritise employment reform and recruitment...

February 10, 2025

Dating cons and dodgy apps among most common...

May 22, 2023

7 ways to be a great leader

March 1, 2024

Consumer Duty comes into force in biggest regulatory...

July 31, 2023

Weight-loss drug firm becomes Europe’s most valuable

September 6, 2023

Ryanair CEO Michael O’Leary qualifies for €100m bonus...

May 30, 2025

Energy Bills to Drop by £122 from July...

May 24, 2024

Secrets of Success: Marcus Brew, MD at UNTHA...

September 20, 2023

Asda Reports Sales Slowdown Despite Loyalty Scheme Success

April 22, 2024

Most profitable businesses in the UK

May 10, 2023

Spending Review must prioritise employment reform and recruitment...

February 10, 2025

Dating cons and dodgy apps among most common...

May 22, 2023

7 ways to be a great leader

March 1, 2024

Consumer Duty comes into force in biggest regulatory...

July 31, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Iran regime escalates repression toward ‘North Korea-style model of isolation and control’

      July 4, 2025
    • UK revealed as Europe’s worst country for commuters in new ranking

      July 4, 2025
    • This July 4th, a family waits: American hostage’s father pleads for son’s freedom from Hamas terrorists

      July 4, 2025
    • $88m methane-tracking satellite lost in space, dealing major blow to climate monitoring

      July 4, 2025
    • New US visa rules will force foreign students to unlock social media profiles

      July 4, 2025
    • The real Formula 1: British Grand Prix highlights UK’s £16bn motorsport economy

      July 4, 2025

    Categories

    • Business (8,393)
    • Investing (2,102)
    • Politics (15,945)
    • Stocks (3,189)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved