Re: New Immigration System
Originally Posted by
Bread
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I can remember when it was 1.5 to 1.6 Euro to the pound in 2010 and it's been coming down ever since.
Immigration from the EU has fallen because of the devaluation of sterling .... we still have free movement and EU citizens can claim free settled status (unlike UK citizens in the EU who have to pay bit that's another story). Tjese are unskilled workers who now stay in the EU because they mo longer can take advantage of the exchange rates for sending money back to their families in the EU.
For example... is it worth coming to the UK to work for £10 an hour and to stay here in digs,plus travel plus paying for your family back home when £10 is the same value as €10 ... OR are you better off staying n the eurozone and earning, €10 an hour without the extra cost of digs travel etc ?
If net migration from the EU has fallen it's entirely down to Brexit rather than exchange rate speculation. It was rising until after the vote. But there are still large numbers arriving. They are just from different countries. I think we will see a reduction this year though because the situation here is very uncertain. It's highly possible the overvaluing of the pound was linked to immigration. That's probably what helped us through the 2008 crash.
Someone is only better off in the eurozone if there are jobs. Some countries don't bother to come here. Look at Croatia. How many Croatians do you meet here? But if net migration here falls then it's a sure warning sign for our economy. It's a more sensitive a signal for economic confidence than the value of sterling.