City workers to get multi-year visas as part of inked UK-New Zealand trade deal
City workers will now be eligible to access multi-year New Zealand visas, after the UK inked a post-Brexit trade deal with Jacinda Ardern’s government today.
Department of International Trade estimates say the deal will add 0.03 per cent to UK GDP every year from 2035, with growth in UK services set to make up the largest portion of the increase.
City PM understands the trade deal will see City services firms – particularly in the legal, accountancy and management consulting sectors – able to exclusively apply for New Zealand contracts.
Staff from successful firms will then be given visas for the duration of the contract.
The deal will also see 100 per cent of tariffs dropped on British exports to New Zealand immediately and around 98.5 per cent of tariffs dropped immediately on Kiwi goods going the other way.
The remaining British tariffs on exports of New Zealand products – like on beef and other agricultural goods – will be phased out over the next 10 to 15 years.
International trade secretary Anne-Marie Trevelyan said: “Our trade with New Zealand will soar, benefiting businesses and consumers throughout the UK and helping level up the whole country.
“Like all our new trade deals, it is part of a plan to build a network of trade alliances with the most dynamic parts of the world economy, so we set the UK on a path to future prosperity.”
Labour shadow international trade secretary Nick Thomas-Symonds said: “We will scrutinise the deal and hold the Government to account on the promises that have been made, especially with the farming and agriculture sector.
“The Conservatives undercut our farmers in the Australia deal – this deal must do the opposite and support agriculture sector.”