Immigration Minister Damian Green has mooted 'contribution-based system', instead of 'points based system'.
The Minister has made it clear that he is in favour of replacing the existing PBS with CBS for ensuring the presence of the best of the best in the UK.
He, in fact, said the PBS of the past should ultimately be replaced by CBS, where migrants are checked to ensure they will add to quality of life in the UK.
In his speech, Green also outlined his vision to create a sustainable and selective immigration system that encourages the brightest and best.
Speaking at the Policy Exchange the minister said: 'We need to know not just that the right numbers of people are coming here, but that the right people are coming here. People that will benefit Britain – not just those who will benefit by Britain.
'We have laid the foundations for a sustainable system where we get numbers down and keep them down. Now we shall make it work for Britain.'
The Minister also expressed his intention that the long-term transformation of British Immigration policy will introduce greater 'selectivity'.
Reiterating the government commitment to reduce net migration numbers from hundreds of thousands to tens of thousands by the end of the Parliament, he referred to recent published figures as an early positive sign.
He added the principle of selectivity would be key in future reforms to immigration, including changes to family migration and reforms to settlement that will break the link between temporary and permanent migration.