City firms are increasingly looking abroad to hire new recruits because overseas graduates are more mature than their British counterparts, according to a report by the City of London.

The survey found many city firms are unhappy with the skill levels of UK students, particularly their inability to manage their time and work.

The Lord Mayor of London, Alderman David Brewer, says: “To maintain a competitive edge the City must ensure that the most skilled people keep coming to work here.

“This research shows more than ever employers need graduates who can apply their education practically.”

The report concludes that businesses should work with university heads to design more relevant degree courses for student.