DGAP-News: Curbing EU Immigration Could Cost UK 60 Billion GBP in Lost GDP by 2050 and Drive Up National Debt
(firmenpresse) - Harvey Nash
10.09.2013 12:06
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-- Government borrowing would be higher without EU migrants
-- EU immigrants less likely to claim benefit and more likely to be in work
than UK born citizens
-- Workers from established EU countries more likely to earn more than British
workers and work in more senior jobs
LONDON, Sept. 10, 2013 (GLOBE NEWSWIRE) -- An EU exit or tighter measures to
control EU immigration will restrict economic growth and worsen the UK's public
finances, a new report from Harvey Nash and the Centre for Economics and
Business Research (Cebr) shows.
Tighter immigration controls will result in a loss of 2 per cent from GDP by
2050, [Pounds]60billion in real terms. And without migrants from the EU helping to
off-set the UK's ageing population, government borrowing would be 0.5% higher.
According to the report migrant workers are more likely to be in work (63.3 per
cent) than UK-born citizens (56.2 per cent) and more economically active - 69.8
per cent of non-UK EU immigrants compared to 63 per cent of UK-born citizens.
UK businesses rely on a significant number of EU immigrant workers. Between
2003-2013, the number of non-UK EU-born citizens in employment in the UK more
than doubled from 762,000 to 1,647,000. Immigrant EU workers play important
roles in several UK sectors. In the financial and business services sectors,
non-UK EU-born citizens make up 6.4 per cent of the total workforce while in
the manufacturing sector they make up 6.7 per cent.
Those migrants from the established EU 14 countries* are more likely to be in
higher managerial or professional occupations and they also earn 7.6% ([Pounds]2,035)
on average more than UK workers. This means that on average they are more
productive than their UK counterparts and indicates they play a significant
role in the UK economy.
View full press release here
CONTACT: Media contact
Libby Johnstone
0207 580 7025
libby.johnstone(at)chapr.co.uk
News Source: NASDAQ OMX
10.09.2013 Dissemination of a Corporate News, transmitted by DGAP -
a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
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Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Harvey Nash
United Kingdom
Phone:
Fax:
E-mail:
Internet:
ISIN: GB0006573546
WKN:
End of Announcement DGAP News-Service
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Unternehmensinformation / Kurzprofil:
Datum: 10.09.2013 - 12:06 Uhr
Sprache: Deutsch
News-ID 294955
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Kategorie:
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"DGAP-News: Curbing EU Immigration Could Cost UK 60 Billion GBP in Lost GDP by 2050 and Drive Up National Debt"
steht unter der journalistisch-redaktionellen Verantwortung von
Harvey Nash (Nachricht senden)
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