UK - Work visa scheme for graduates announced in 2004 Budget
17 March 2004
On Wednesday, 17 March 2004, the UK Government announced plans that will allow graduates from the World's top 50 business schools to work in the UK for twelve months. Further details will be announced over the next few months. At the end of the first year's work it is envisaged that most candidates will be able to obtain an employer-sponsored work permit or a Highly Skilled Migrant Programme (HSMP) visa.
The 2004 UK Budget has introduced measures to promote productivity growth which included this new entitlement for MBA graduates. The Government acknowledges that migration helps productivity and boosts economic growth by increasing labour supply and reducing domestic skills shortages. The UK benefits from free movement of labour within the EU, and in order to maximise these benefits, the Home Secretary David Blunkett has recently announced that workers from the new EU accession states will be allowed to access the UK labour market from 1 May 2004, subject to a worker registration scheme.
To promote schemes attracting overseas talent to the UK, the Government has recognised in particular the potential of international students, and therefore will introduce over the coming months this new scheme allowing graduates of the world's top 50 business schools to work in the UK for up to 12 months on completing MBAs. This programme would also build on measures announced last month by the Scottish government to allow graduates from Scottish universities to remain in the country for up to two years to live and look for work. If this pilot project turns out to be successful, then an extended scheme could provide greater freedom for other parts of the UK to attract migrants. According to the Government, this would benefit regional exonomies and communities.
Please check this site frequently for further information on this scheme, which will be provided once announced.