Tuesday 6 October 2015 8:46 pm
Nor do migrants depress wages – and minimum-wage workers will soon benefit from a higher living wage anyway. As net contributors to the public finances, immigrants subsidise locals and help finance the public debt incurred by the existing population.
The independent OBR calculates that, with net migration of 260,000 a year, public debt as a share of GDP in 2062 would be half as high as without migration. In a globalised world, Britain thrives by being an open, flexible economy. It should have no truck with labour-market protectionism.
Is Theresa May’s claim that mass immigration has “close to zero” economic benefits a dangerous one?
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