A UK Home Office minister has said that a proposal to extend the settlement period for Hongkongers from five to 10 years is subject to consultation, but their economic contribution is “huge and lasting”.

Other parliamentarians in the debate agreed that Hongkongers should be exempt from the proposed extension announced by British authorities in May. They argued this change would be a betrayal of trust by moving the goalposts and would delay access to lower university tuition fees in the UK and retirement funds in Hong Kong.

The parliamentary debate on Monday followed a petition urging the government to keep the five-year term for indefinite leave to remain (ILR) for British National (Overseas) visa holders, which received more than 108,000 signatures.

The UK minister said the final decision would be made after the coming consultation.

“The consultation is coming later this year, and we will make the final decisions and provide details of how the scheme will work after that consultation,” Minister of State for Border Security and Asylum Alex Norris said.

“I apologise in advance that, for many of the issues that have been raised, I have to say that they will be subject to consultation, but that is the right way to ensure that we get to the right position.”