Immigration Forecast: Brits to Lose £2.5k Per Year by 2031
New analysis by the Conservative Party suggests that rising immigration levels could leave Brits £2.5k worse off each year by 2031, as increased competition in the job market slows wage growth.
The study, based on Office for Budget Responsibility (OBR) forecasts and Bank of England figures, projects a total of £89.8billion in suppressed wages over the next five years due to mass migration.
The average worker would be around £2,500 worse off as the immigrant-to-native ratio rises by 10%, leading to an estimated 0.93% average wage reduction.
Shadow home secretary Chris Philp called on the Government to take action on growing migration numbers, warning that high immigration has real consequences across society and British people feel it indirectly in how much they earn.