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Sir Martin Sorrell Immigration

Political pressure to curb immigration could damage future UK and US business, says Sir Martin Sorrell

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By Jessica Davies, News Editor

September 3, 2013 | 3 min read

Current governmental policies over curbing immigration in the US and the UK are in danger of “undermining” future business growth and innovation, according to Sir Martin Sorrell.

The WPP CEO has aired his views via a LinkedIn post, where he discussed both his personal dislike for the “rhetoric” bandied around about immigration in the UK, himself being of Polish and Ukranian descent, and the potential harm to future business.

“There is much discussion, often emotional, on the overall economic impact of immigration. I’m not going to focus on that, although I think it’s interesting that independent bodies like the Institute for Fiscal Studies say that Central and Eastern European migrants to the UK before the financial crisis delivered a net benefit for the economy, and that the OECD recently concluded that immigration into the world’s leading economies has not proved a drain on public finances.

“What is certain, and all too often lost in the noise of the debate, is that immigrants are a hugely important driver of innovation and entrepreneurialism – traits that spur economic growth,” he wrote.

He cited various articles and research on the technology sector in the UK, the results of which showed that of a sample of over 30 companies in the Silicon Roundabout area of London at least a quarter of the founders were foreign-born.

“It’s a similar story in the US. The Kauffman Foundation of Entrepreneurship discovered that of all the engineering and technology companies founded in the USA between 2006 and 2012, nearly a quarter had at least one key founder who was foreign-born. In Silicon Valley, the figure was well over 40 per cent.

“Across the US, these businesses had revenues of $63 billion and employed some 560,000 people in 2012.”

He concluded that if the UK and US should develop a more “enlightened” approach to policy.

"If the US wants more Sergey Brins, Andy Groves and Elon Musks, and the UK wants some of its own, there needs to be an enlightened approach to policy. There are genuine concerns about the cultural, financial and social consequences of immigration. The debate must be had, but let’s not cut off this lifeblood and everything we gain from it,” he said.

Sir Martin Sorrell Immigration

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