City firms will continue to be able to hire staff from abroad under the government's points-based immigration crackdown, but without a special exemption, according to Immigration Minister Liam Byrne.
He said incomers whom businesses wished to employ would have to be earning £24,000 a year in jobs at a level requiring "A" level qualifications.
They would also need to be able to speak English and the business concerned would have to show they had offered the post to be filled by a British applicant and been unable to fill it.
A senior Home Office official said city firms had been consulted about the proposals and were happy with the way they will work, claiming the new system will be more efficient in getting in the staff businesses require.
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