Responding to the Migration Advisory Committee's report on EEA migration, Stephen Jones, Chief Executive of UK Finance, said:

As this important report recognises, EEA nationals play a key role in the labour market, bringing vital skills and contributing to the UK's role as a global leader in financial services.

As we leave the EU, it will be crucial for both the finance sector and the wider economy that firms can maintain access to the brightest and best workers from Europe and around the world.

Any future immigration system needs to ensure that businesses can recruit and retain the highly skilled talent they need, with a streamlining of the visa process to make the system work better in practice.