Home > General Financial News > Economic benefits of migration "very slight"

Economic benefits of migration "very slight"

Published On 3 January 2007 at 14:38:20

A pressure group has warned that the value of immigrants to the UK's economy is negligible.

According to Migrationwatch UK, the contribution of all immigrants to the UK is the equivalent of four pence for each person in Britain a week.

The group asserts that the government has exaggerated the benefits of immigration to Britain.

Sir Andrew Green, Migrationwatch UK's chairman, told the BBC: "We find they certainly do add to production, but they also add in virtually the same proportion to population."

However, Susan Anderson of the Confederation of British Industry, dismissed the claims.

"Migrants to the UK bring valuable skills and ideas with them and help to fill job vacancies where Britons are unable or unwilling to do so," she stated.

"Their taxes help pay for our public services and our pensions, long after many migrants have returned home."

It is estimated that around 600,000 workers have arrived in Britain from eastern Europe since 2004.

 

Related General Financial News:

• FSB criticises government policies on SME tax
  17 May 2007 at 11:17:06
  The Federation of Small Businesses (FSB) has slammed the government's taxation policy, saying that it harms small and medium-sized enterprises (SMEs) in the UK.
• Business leaders cautiously acknowledge rate rise
  10 May 2007 at 12:55:37
  Business leaders acknowledged that today's (May 10th) decision to increase interest rates by 0.25 per cent to 5.5 per cent was probably needed, but have urged caution in the future.
• SMEs 'throwing away free money'
  9 May 2007 at 16:19:56
  Small and medium-sized enterprises (SMEs) are still missing out on financially lucrative research and development (R&D) tax relief, KPMG has suggested.
• Business insolvencies fall
  9 May 2007 at 10:57:48
  Fewer companies - including small and medium-sized enterprises (SMEs) - went into liquidation in the first quarter of the year, new figures suggest.
• BCC: 'Keep up the good work MPC'
  8 May 2007 at 08:53:16
  Ahead of this week's interest decision, the British Chamber of Commerce (BCC) has praised what the Monetary Policy Committee (MPC) has achieved in the last decade.
• Regulator gets tough on financial SMEs
  16 April 2007 at 08:57:55
  A regulator which monitors the activity of firms working in the financial services sector has revealed that it plans to focus its attention on the UK's small and medium-sized enterprises (SMEs).
• Base Rate remains at 5.25 per cent for another month
  5 April 2007 at 13:00:04
  In a move which is likely to please small and medium-sized businesses with extensive borrowing, the Bank of England has announced that interest rates will remain unchanged in April.