Sharper than expected fall in net migration will add 3bn to UK's borrowing'
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Sharper than expected fall in net migration will add 3bn to UK's borrowing'
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"The UK's plummeting net migration numbers will add billions of pounds to the nation's borrowing, Rachel Reeves has been warned. Successive governments have announced crackdowns on migration since the figures hit nearly a million in just 12 months in 2023. But these attempts have proved so successful with numbers dropping by two-thirds in a single year, driven by a huge fall in people coming for work or study that they now risk affecting the exchequer, a leading think tank has warned."
The Independent solicits donations to fund on-the-ground journalism and avoids paywalls so reporting remains available to all. Donations are positioned as necessary to send reporters to cover contentious issues and to speak to both sides. UK net migration fell sharply, dropping by around two-thirds in a single year after government crackdowns, following nearly a million arrivals in 12 months in 2023. The Resolution Foundation warns that the fall, driven by fewer people arriving for work or study, will reduce tax receipts and add roughly £3 billion to government borrowing, potentially straining the exchequer.
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