Foreign workers in Britain are leaving the country at the fastest pace since World War 2 due to raging economy and COVID-19 pandemic, a recent study revealed.
King’s College London economics professor Jonathan Portes estimated that more than one million foreign-born workers may have left the country.
“The risk is that people don’t come back, so we have skill and labor shortages and we lose some output, growth and tax revenue permanently,” he added.
He also said, “Given how migration has driven economic growth, particularly in London, that could be bad news.”
London has lost 700,000 people in 2020, recent research suggests. Also, according to website Zoopla, rents in London fell 8.3% in the same year.
Chancellor of the Exchequer Rishi Sunak and the Office for Budget Responsibility may confront some realties in the Budget on March 3.
With the loss of foreign workers, it will be harder for the European Union (EU) citizens to settle in Britain which means that jobs previously done by “low-skilled migrants may be harder to fill.”
Migration Observatory research unit at the University of Oxford and an adviser to the government Madeleine Sumption said, “those jobs won’t be eligible for long-term work visas.”
“The government has made it clear it doesn’t want to allow a lot of exceptions,” she added.
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