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And , published this week by the IPPR thinktank, concludes that the 90,000 figure for overstayers is ‘not reliable enough to be used as a guide for policy’: the number here after five years might be less than 40,000.
Meanwhile, many thousands of talented students choose to study in Australia or the US instead of the UK, to our future economic detriment.And if our new Prime Minister was hoping to persuade her Hangzhou hosts that Britain still wants to be (in Osborne’s phrase) China’s ‘best partner in the West’, then her dissing of Chinese investors in the Hinkley Point nuclear project is not the least of her embarrassments. The answer was oblique, but the question was bang on.According to the commentator Diane Wei Liang, on the was Japanese ambassador Koji Tsuruoka. The UK’s strength in today’s globalised car industry is largely due to Japanese investment that began in the 1980s, driven by thirst for access to Europe and admiration for the business environment created by Margaret Thatcher.Japanese business leaders ‘agree that UK is the best place to do business in Europe’, he said, but ‘if the way Brexit ends up does not provide companies with a prospect of making sufficient profits… There used to be talk of an ‘iron triangle’ of consensual action between Japanese business, officialdom and politicians: even if that system is not as strong as it was, they still think as a pack. The key Brexit test has nothing to do with current economic indicators; it will be whether Nissan, Honda and Toyota still make cars here in ten years’ time.My comments on the unjustifiably rising trend of top executive pay have all emphasised the need for institutional investors to take the lead in correcting ‘a trend that causes such social offence without delivering better performance’.In the post-Brexit landscape whose shape was barely glimpsed in G20 discussions at Hangzhou, one thing is clear: soon we’ll have to stop waffling about trade deals and start pushing British products the world wants to buy.
One such is education, at our universities, independent schools and English-language colleges — an export sector calculated in 2011 by the now defunct Department for Business, Innovation and Skills to be worth £17.5 billion.Not only does this sector attract foreign exchange, plug funding gaps for cash-strapped universities and support thousands of jobs, it also lays the ground for future relationships with students who return home to embark on business careers.And as the global population of international students grows by 6 per cent a year, it’s a great ‘soft power’ opportunity to bolster British influence around the world.George Osborne’s Treasury recognised this and argued that foreign students should still be made welcome.But under the home secretaryship of Theresa May — as part of a wider ‘clampdown’ so ineffective that net migration actually doubled — UK visas granted to non-EU foreign students actually fell by 6 per cent a year, to 187,000 in 2014.Behind this were two much-bandied claims: that many colleges were ‘bogus’, and that up to 90,000 non-EU students a year were outstaying their visas.