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'Something is going seriously wrong in our economy' warns Next boss - by Bvishya Patel for the Mail

In an interview for Mail Online, Lord Wolfson outlines some practical interim measures to address current labour shortages across the retail and hospitality sectors with safeguards to underpin rather than undermine wages rates for those working in those industries:

'What I've suggested is that we have a market-led solution whereby businesses can get visas for the skills that they desperately need, but with two conditions.

'The first is that they have to pay those people who are coming from overseas the same wages as they pay UK workers and over and above that they have to pay a visa tax on top of that, let's say 7 per cent of wages.

'That way we can have a market-led solution that ensures that people aren't being brought into the UK to undercut UK workers, because they'll always be more expensive and it provides the skills that Britain desperately needs to keep its industries moving.'

Article for the Mail Online by Bvishya Patel - Something is going seriously wrong in our e
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