The boss of Next has urged the Government to allow more foreign workers to enter the UK amid widespread labour shortages.
Lord Wolfson said immigration rules were holding back economic growth.
He told the BBC: “We have got people queuing up to come to this country to pick crops that are rotting in fields, to work in warehouses that otherwise wouldn’t be operable, and we’re not letting them in.
“And we have to take a different approach to economically productive migration.”
However, Lord Wolfson said companies should have to pay a tax to hire foreign workers as an incentive to hire from the UK first.
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2) Rolls-Royce seeks to open mini-nuclear reactors across Wales, the North and West Midlands by 2030 Engineering giant aims to build 30 reactors to kick-start nuclear revolution
3) Shell handed £90m by taxpayers under energy price guarantee The payments are one part of a major Government package to shield households
4) Mark Zuckerberg sacks 11,000 Meta staff Facebook founder takes ‘accountability for these decisions and for how we got here’
5) Serious Fraud Office chief to step down after controversial tenure Former FBI lawyer Lisa Osofsky presided over a string of major bribery investigations
What happened overnight
Asian share markets pulled back this morning and the dollar held its overnight gains before the big test of a US consumer inflation report, while market sentiment took a dive as the likely collapse of a major crypto exchange spooked investors.
With no final results available from the US mid-term elections, investors were turning to upcoming inflation data later in the day, which is likely to show a slowing in both the monthly and yearly core numbers for October to 0.5pc and 6.5pc, respectively, according to a Reuters poll.
MSCI’s broadest index of Asia-Pacific shares outside Japan fell 1.2pc, dragged lower by a 1pc drop in China’s blue-chips and a 1.8pc retreat in Hong Kong’s Hang Seng index. Japan’s Nikkei lost 1pc.
