Brexit And Strict Immigration Laws Can Make UK Economy Suffer

Brexit is considered to be a blessing for a number of people. On the other hand, there are other individuals who do highly believe that Brexit will be a bane especially in terms of the economy. This should be one of the consequences of Brexit. Thus, a number of people are trying to fix the terms of Brexit and that includes not approving the stricter laws on immigration.

The grim report

According to a report done by the Office for Budget Responsibility of Britain, the stricter immigration laws definitely would hurt the UK economy. It may not seem like much right now but the numbers are looking grim. This was published this November in their Economic and Fiscal Outlook. With the June vote on Brexit, this is the first time since that the group had published such a report.

The UK office is currently doing another study that would supplement this first report that they had produced. It would provide an even deeper analysis of the numbers to land on a better conclusion. The report has finally been released last 8th of December.

Looking at the specifics

Looking at the details of the report, it is said that with Brexit, they are estimating to see up to an additional £59 billion when it comes to borrowing of the public sector. This is projected to happen in the next five years. Of the £59 billion, £16 billion would be actually a part of the effect that comes with the lesser amount of migrants to the country.

The lesser migrants in the country would be because of the stricter laws on Brexit. And with that, the country would need to borrow because of the imbalance that is not good for the economy. The effects would be reflected on government spending as well as on the tax revenue.

The grander negative effects of Brexit are estimated to happen sometime in 2018 up until 2019. Aside from that, immigration (or the lack of it) to the UK would be bringing the negative effects to the country even up to the years 2020 and 2021.

Brexit is still uncertain

Is Brexit happening today? This is a question that a lot of people are already asking. However, experts are saying that there is still a lot to work on. There are a lot of negotiations still happening and that is giving a lot of people still have hope.

With the facts and the numbers presented, there are still people lobbying to make sure that Brexit will not curb immigration to the UK. After all, if immigration to the UK is going to be giving the country a hard time, then it must be reconsidered at all costs.

 

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