Britain’s valuable position as a major research and development centre could be put at risk if the Government slams the brakes on immigration, a PwC study of major investors has found.

Big international companies rely on open borders to hire researchers from around the world – and to stock UK universities with the brightest minds.

The UK’s open position has helped it attract almost $20bn (£15bn) of “imported corporate R&D” spending per year from global companies. This makes up more than 80pc of all corporate R&D in the country.

But if it becomes tougher to get top teams of analysts across the border, then much of that could be at risk.

“To deliver innovation, many of world’s largest companies rely on shifting talent, money, and ideas across borders. If policies in the major global economic powers start to focus more inwardly, however, this would cast uncertainty over companies’ innovation plans and their current models would need to evolve,” said PwC’s John Potter.

“Uncertainty only serves to slow innovation. Given that R&D activities ultimately help to create the jobs, growth and wealth of our communities, we need to ensure clarity over policy to keep innovation centres around the world working effectively."