Office blocks of Citi, Barclays, and HSBC banks seen at dusk in the Canary Wharf financial district in London, Britain November 16, 2017. REUTERS/Toby Melville
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Global banks in Britain are calling for a special work visa waiver after Brexit to preserve the City of London's standing as a top global financial center, two sources said, a move that would be more generous than the current arrangements. Since Britain voted to leave the European Union two years ago, London's financial services industry has been trying to prepare for losing access to its biggest trading bloc, its toughest challenge since the 2007-09 financial crisis.As a result, the finance industry is demanding a new system where international staff posted to Britain for less than six months will be able to come and go freely without having to apply for a work visa before they travel, the sources said.The report reminds the government that the finance sector must continue to attract top global talent because it is the biggest source of corporate tax, accounting for 14 percent of all tax revenue raised in the U.K.
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