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UK Economy Weaken, as Immigrants were Reduced


Marec, 28 2018
watermark Economic news

Great Britain should expect a slower economic growth in case that immigrants will leave after the Brexit. According to a government committee, the British economy has higher chance to grew weaker if immigration from the Euro area will be extremely restricted.


The Migration Advisory Committee (MAC) is tasked to study the effect of immigration policy and mentioned that employers are highly concerned regarding the impact of tighter restrictions towards their businesses. There are various companies stated that the committee has left with no choice but to hire employees from Europe.


Employers from the United Kingdom hired European laborers due to their skills in terms of the native workforce as stated in the report. Also, European workers are known to be flexible, reliable and inclined to perform work that seems dreary to Brits.


The membership within the European bloc means that laborers from the union are able to work in Britain. However, Prime Minister Theresa May pledged to lessen the number of immigrants coming to the UK following the Brexit vote on a major issue regarding immigration.


Industries that mainly depend on foreign workers are agriculture, healthcare, and hospitality. There are several companies that are compelled to move away in order to gain access EU labor free from any restrictions and other businesses tend to leave the industry, according to MAC.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.