Why we face 50 years of austerity (and slashing immigration could make things much worse)
This is a cracking, positive and thought provoking article – don’t throw rocks at it on the strength of the summarised section below – read all of it before making your mind up via the hyper-link. It tells us:
Britain’s economy is going to need millions more young, fit, tax-paying migrants in order to off-set the ageing population, the OBR believes – contradicting the Coalition’s bid to get new entries into the tens of thousands.
With a total freeze on migration, the economy is forecast to grow at 1.9 per cent a year on average for the next fifty years – below the trend of 2.2 per cent. As a result, debt could reach 175 per cent of GDP. But with high migration – 240,000 new migrants a year – growth will rise sharply to 2.7 per cent, and the public debt will be much lower. But will any politician dare call for more immigration?
And before you get even more wound up if you don’t disagree remember it is an article in the Daily Telegraph – not the Guardian!