The latest indication that the pandemic-fueled hunger for flexible work isn’t abating is that finance workers are lobbying for simplified rules for cross-border remote working.
According to a report released on Wednesday by the City of London Corporation and consulting firm EY, the UK government, which started an investigation into cross-border working laws earlier this year, should establish comparable norms regarding tax, immigration policies, and regulatory monitoring.
Since the pandemic, cross-border remote work has increased significantly, with 75% of UK businesses polled now citing it as a “medium-to-high priority” to recruit and keep talent. A poll of 151 respondents from the financial and professional services sector, including high-street banks, technology businesses, legal firms, and insurers, served as the basis for the report.
“The risk of doing nothing is potentially significant and could lead to a reduction of the UK’s competitiveness on the international stage when it comes to attracting and retaining top global financial talent.” Seema Farazi, UK financial services immigration partner, EY
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