Cutting immigration will lead to slower growth for the British economy, a new report by the National Institute for Economic and Social Research (NIESR) shows today.
NIESR calculated that a “mid-range” Brexit, where immigration would fall by 91,000, would cause the British economy to be 3.4% smaller by 2030 than it otherwise would have been. A fall in immigration of 150,000 would cause the economy to be 5.4% smaller by 2030.
Open Britain believes that this demonstrates that a Brexit focused on reducing immigration will make our country worse off, and therefore the Government should aim to keep Britain in the Single Market, while seeking reforms that will mend, rather than end, free movement of people.
Commenting, Norman Lamb MP, a leading supporter of Open Britain, said:
“This report confirms what any businessperson or economists could tell you – that Britain’s prosperity is dependent on our openness to talented people from around the world.
“The only way our successful sectors – from hi-tech manufacturing to financial services and the creative industries – can grow and create more British jobs is by harnessing the unique skills of British and immigrant workers.
“Our immigration system does need to be reformed. But a hard Brexit that puts cutting immigration ahead of economic stability would hammer our businesses, meaning lower growth and fewer jobs.”
Notes to editors:
The NIESR report is reported here: http://uk.businessinsider.com/niesr-brexit-immigration-crackdown-would-damage-uk-economy-2016-12.