Immigration and the economy — and calls for less of one to boost to the other — proved to be the winning rhetoric for the 'Leave' campaign. However, a new report from think tank, National Institute of Economic and Social Research (NIESR), suggests that projections were focused on trade — and not the economic impact on Britain.
Sharp fall in #migration post #Brexit could shrink GDP per capita by more than 3% —latest report by @jdportes finds: https://t.co/E7YmM865Zd pic.twitter.com/SNpnWveXoF
— NIESR (@NIESRorg) December 7, 2016
And in it's latest report "The Economic Impact of Brexit-induced Reductions in Migration", the NIESR suggests that a drop in immigration post Brexit will damage the growth of Britain's economy.
The appalling mess of #Brexit can be stopped by #MPs if they put the country before themselves. Courage & principle: do MPs still have them?
— A C Grayling (@acgrayling) December 7, 2016
Fewer migrants settling in the UK as a result of Brexit is predicted to have a negative impact on the economy, with economic growth reduced by 3.4 percent by 2030.
Will we take back control of #migration? And at what cost? @jdportes from @NIESRorg now with @OxrepJournal @britac_news in @FT #OxREPBrexit pic.twitter.com/EAsRUE53bf
— Cameron Hepburn (@camjhep) December 7, 2016
Researchers analyzed the impact of Brexit on the flow of migration to the UK, in the short and long term in order to predict its impact on the economy.
The report states: "these estimates should be viewed as an indication of the sign of the likely impact as with trade, almost certainly negative and of the plausible rough order of magnitude of the possible impacts, rather than a point estimate."
For example, a fall of around 91,000 people, touted as being "mid-range Brexit" would mean that the UK's economic growth would slow down and be 3.4 percent lower by 2030.
A 'hard Brexit' would see a slowdown of 5.4 percent.
Around 650,000 people immigrated to the UK between 2015 and 2016 — a record high for Britain.
