Reduced migration will adversely impact the UK growth and it’s GDP according to King’s College London Professor of Economics and Public Policy Jonathan Portes. He is also a ‘UK in a Changing Europe’ Senior Fellow.
The Professor has drawn conclusions from evidence and the vast literature on the effects of immigration on the economy and labor market of the UK. This is inclusive of the prospective politico-economic impact of the reduced immigration induced by Brexit, as quoted by the Eurasiareview.
Jonathan Portes has concluded that reduced immigration owing to Brexit will have a crucial adverse effect on the UK growth, per capita GDP and productivity. The comprehensive scenarios and not forecasts imply that the negative impact on the UK GDP per capita will be really significant. This is going to be a direct effect of decreased rate of immigration.
On the other hand, it has been elaborated by the Professor that enhancement of wages for low skilled workers that will result from decreased immigration if at all will be comparatively modest.
In the course of the Brexit campaign, the discussion on the economic effects of Brexit on the economy of the UK was quite extensive. Elaborate projections for diverse scenarios for the EU-UK relationship in the post Brexit period were produced. The chief amongst these was by the OECD, IMF and the HM Treasury. These were primarily focused on the impact on investments and trade.
The Professor of Economics and Public Policy at King’s College London uses widely similar approach and methodology that is used in the analyzing the impact of Brexit on trade for immigration flows. It creates scenarios for the flow of immigrants in the future. The conclusions offer plausible and empirical based projections of the likely effects on wages, employment, and growth in the UK.
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