May's £3000 security bond for African and Asian visitors dropped The plan was part of the Government's drive to cut net migration into the UK to the "tens of thousands" by the time of the next general election in 2015. A Government spokesman said: "The Government has been considering whether we pilot a bond scheme that would deter people from overstaying the visa. We have decided not to proceed. "The Home Office version of the policy was not acceptable to the Liberal Democrats and was not supported by other government departments," a Liberal Democrat source said. They have seen the writing on the wall and binned it off. We have been clear from the start that the version was just not acceptable to us. The Confederation of Indian Industry had warned the "highly discriminatory" plan could jeopardise an EU-India trade deal and undermined "special relationship" with Britain. Nick Clegg threatened to block the plans earlier this year, saying it risked "clobbering" people would bring "great prosperity" to Britain. Keith Vaz, the chairman of the Commons Home Affairs Select Committee, said the scheme was "unfair." "This flies in the face of the Prime Minister's intention to attract the brightest and best to Britain and sends out the wrong message to the countries concerned," he said. It is the latest in a series of Home Office immigration initiatives to be overturned. Mrs May had strongly opposed plans to loosen visa rules for Chinese visitors, saying it would threaten national security and open the door to fraudsters and organised crime. However Mr Osborne last month announced a radical relaxation of the visa regime in the hope of drawing thousands of tourists and billions of pounds of business investment to Britain. Vans telling illegal migrants to "go home or face arrest" have also been scrapped, after trials found they had modest impact. Liberal Democrats claimed responsibility for ending the scheme.