> the government wishes to reduce the number of skilled worker visas to deal with a pay compression issue At least in IT/tech I would expect an opposite effect

> the government wishes to reduce the number of skilled worker visas to deal with a pay compression issue At least in IT/tech I would expect an opposite effect - with number of skilled immigrants reduced there will be risk that multinational companies will close development offices in the UK, startups will have one more reasons to choose another country too. With number of available jobs going down workforce reduction will not prop salaries up IMHO.