At least 200,000 migrants are needed to keep the UK economy running Post Brexit
In a recent research by Global Future, it was reported that the British economy post Brexit will need at least 200,000 inward flow of migrants annually to keep the economy running; if we are to avoid catastrophic economic consequences.
According to the Global Future report, the UK is close to full employment, has an ageing population and low productivity growth. These factors make immigration an essential ingredient of a successful economy in the years ahead.
The report strongly criticised the Conservatives and Labour for not been truly honest with the public about the levels of immigration that is needed to keep the British economy running. According to the report, the UK could face a decade of slow growth if acts rigid with its immigration policies.
Just last week Thursday, the Tory manifesto renewed its pledge to bring immigration levels to the tens of thousands in addition to doubling the cost of hiring a migrant. Currently, businesses have to pay up to £1000 a year for every migrant they employ. The Tory led government are now moving to double that figure to £2000.
Research says we need at least 200,000 migrants to keep the economy running; Tories say we need tens of thousands
The Tories are clearly trying to score cheap political points at the expense of the public. The Brexit vote signalled to the government that people actually want less migration, and that seem to be what the June 8th election campaign is trying to take advantage of. Rather than honestly educating the public on the implications of reduced migration, and allow voters make informed decision, they would rather go for the easiest option by appealing to voters on the public want have hinted that they want (based on some knowledge that they have been fed though) - which is reduced immigration.
The public at least deserve to know. The lies about Brexit, including and how the NHS is going to be getting £350 million is clearly not enough for these politicians.
In an earlier article - click here to read - we pointed out certain industries in the UK depended on labour from the EU as well as outside the EU to meet the demand of the UK market.
It therefore does not make sense, that after Brexit, which will clearly cut down the number migrants from the EU, to then still be gunning to reduce net migration to the tens of thousands. It is clear that the economy will suffer if this election pledge is fulfilled.
The report from Global Future rightly pointed out that the UK was close to full employment. If any economy is close to full employment and is still increasing its output, cutting the supply of labour by hundreds of thousands will only move towards grinding down the economy to a standstill if not cripple it.
It appears that the government is not unwilling to press the self-destruct button if it will score them political points. Politics and party tussle is appearing more important that the genuine needs and economic prosperity of Great Britain.
At Reiss Edwards, we are challenging the government to be honest with the British people and to rethink its strategy on immigration.
Reiss Edwards is a leading immigration law firm in London specialising in individual and business immigration including: - Tier 2 sponsor licence applications, Tier 1 Entrepreneur visa, Tier 1 Entrepreneur visa extension, and EEA permanent residence applications.
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