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EU Immigration is good for UK economy

If the UK were to leave the EU or impose tighter controls on immigration from within the EU it would have a negative impact on the UK in terms of restricted economic growth and a worsening in public finances, according to a recent report.

The report, by Harvey Nash and the Centre for Economics and Business Research (Cebr), found that immigration from the EU brings a number of important benefits to the UK.

Migrants from the EU can help to offset the UK’s aging population, and without them Government borrowing would apparently increase by 0.5%. Restricting this immigration would also reduce the UK’s GDP by 2% by the year 2050, which would cost £60 billion in real terms claims the report.

“Non-UK EU born workers are bringing much needed skills and value to the UK and there is little evidence that EU immigrants are having a negative impact on wages or unemployment,” commented Albert Ellis, CEO of the Harvey Nash Group.  “In fact, immigrants are helping to create jobs – a broad and diverse labour market fuels growth as this report shows.”

“Employment among those born in the EU 14 has increased by 21% in the last ten years suggesting there is a demand for higher skilled workers that EU immigrants are meeting. We know that alongside tax considerations, the availability of talent is a major factor for businesses deciding where to locate. Our EU membership is important to attracting the right people and, in turn, for us to be globally competitive,” he added.

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