Economics
Brexit Migration Cuts Will Hurt U.K. Economic Growth, Niesr Says
- Curbs could shave 3.4 percent off GDP per capita by 2030
- Net EU migration could fall by 100,000 if free movement ends
Pedestrians use the Millennium Bridge near the Shard tower in London.
Photographer: Simon Dawson/BloombergThis article is for subscribers only.
Immigration restrictions after Brexit may harm productivity and shave more than 5 percent off projected U.K. economic output by 2030, the National Institute of Economic and Social Research said.
Curbing free movement to Britain of European Union nationals could result in 91,000 fewer migrants a year, about a third of the current total, Niesr said Wednesday in a report, citing its central scenario. That could hit projected gross domestic product by 5.2 percent in 2030, while cutting GDP per capita by 3.4 percent -- a similar decline to that in trade and investment. The drop in migration would boost incomes of low-paid workers by 1 percent, according to the study.