Sensible assessments by authoritative third-party bodies are fundamental to the UK development sector’s ability to plan and invest. We had one last Wednesday with a report from MAC which found no evidence that graduate visas suffer widespread abuse. This is a boost to the University sector and the development and construction industry. It will be a blow to the twitter accounts of some of our more reactionary political elites.
The Graduate route has only been open to international students studying in the UK since 2021. It enables those students who successfully complete an eligible course to remain in the UK for 2 years after graduating. This is attractive to UK institutions who can benefit from the cross subsidy on loss making domestic courses.
There were over 100,000 visas granted last year with India, Nigeria, China and Pakistan taking the lion’s share. Without this route, many universities will financially struggle. So like it or not, this is a pillar we as a country need to maintain and in the context of Brexit, an openness to the world through education and enrichment is both smart politics and smart economics.
From a developer perspective, there is a desperate need for more student accommodation alongside all other living uses. However, knowing the demand is there is often not enough for big capital investments. Certainty and stability to invest is also required. Government using sensible data sources and listening to qualified advice is central to our sector’s ability to grow and respond to the demand and supply imbalances which bedevil the UK. Well done MAC for a clear and authoritative report.
