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EU Immigrants Good for British Economy

From The Economist:

BACK in the rosy mid-2000s, immigrants were tolerated and sometimes even welcomed in Britain. Times were good, and the hard-grafting folk who rushed in after Poland joined the EU in 2004 fared well. But five years of economic slump have hardened attitudes. Polls suggest the locals are turning frosty just as a new wave of immigrants, from Bulgaria and Romania, rumbles towards the nation’s shores. Politicians reflect those fears. Yet the evidence suggests more immigration would be a boost, not a drag….

…..A final reason to welcome foreigners is the debt burden, which will exceed £1.5 trillion by 2015. Spread across natives alone, the bill runs to £28,650 per person. But divvied up across Britain’s immigrants too the load lightens to £21,800. If the current pattern—lots of immigration, lots of churn—continues, many of the Bulgarians and Romanians who arrive will return home before their fiscally costly retirement years. They will not cure Britain’s debt hangover, but should help ease it.’

 

The key words that are confused, conflated and inflated for alarm by most media and politicians are ‘lots of immigration, lots of churn’.

‘Immigration’ is now used to describe temporary residents, not just new permanent immigrants, included in the net overseas migration NOM data based upon departures/arrivals of those residing for 12/16+ months.

“Churn” describes NOM better as many, if not most, are international students, EU workers etc. who will return home or leave, after contributing taxes with limited access to health and benefits, if any.

Conversely, how many British citizens are taking advantage of EU mobility for employment, business, investment, travel, study and retirement, formally and informally, with access to state services being EU citizens? Two million?

 

 

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