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Home Department written question – answered on 30th April 2014.

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Photo of Adam Afriyie Adam Afriyie Chair, Members' Expenses Committee, Chair, Parliamentary Office of Science and Technology

To ask the Secretary of State for the Home Department what assessment she has made of the contribution of the (a) Tier 1 (Entrepreneur) visa route and (b) Tier 1 (Investor) visa route on economic growth.

Photo of James Brokenshire James Brokenshire Minister of State (Home Office) (Security and Immigration)

The Migration Advisory Committee (MAC) advises the Government on economic issues relating to migration.

On 1 July 2013 the MAC published a “Report on the economic and labour market impacts of tier 1 entrepreneur and investor migrants to the UK” which it had commissioned from the Migration Observatory. The report made a number of findings, although it concluded that it was too early to make a full assessment of the economic contribution of the two routes without further research. The report is available on the gov.uk website at:

https://www.gov.uk/government/publications/economic-and-labour-market-impacts-tier-1-entrepreneur-and-investor-migrants

More recently, on 25 February 2014 the MAC published its own report, “Tier 1 (Investor) route: investment thresholds and economic benefits” in response to a Government commission. The MAC concluded that the direct investment required by the route is of little or no benefit, but there is some benefit from indirect spending by investors and their families in the UK (although this is difficult to quantify). The report is available on the gov.uk website at:

https://www.gov.uk/government/publications/the-investment-limits-and-economic-benefits-of-the-tier-1-investor-route-feb-2014

The Government keep all routes under review and are currently considering our response to the MAC’s report on the Tier 1 (Investor) route.

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