UK Prime Minister David Cameron’s plan to foster the immigration of wealthy foreigners, announced yesterday, suggests an amnesty is set to be signed with resident non-domiciled individuals in the near future. And not before time, chorus the nation’s private bankers.

The new rules, announced with a flourish by immigration minister Damian Green, make it clear people with £5m to invest will be able to settle in the UK after three years. Those £10m can put down their roots after two, against the minimum five years currently required.