London, May 19: A Friday study revealed that the British economy needed about 200,000 people migration per year to avoid "catastrophic economic consequences" associated with Bridzite. In the Global Future study, the Guardian reported that a shortage of workers in key areas such as the UK's low productivity, the aging population and the National Health Service (NHS) require 200,000 net migration every year.
The report criticises Labour and the Conservatives for refusing to be honest with the British public about the level of migration the UK requires. It warns that if the UK refuses to be flexible about its sources of labour, it could face a decade of slow growth. The Conservatives recommitted themselves to a target of limiting net migration to tens of thousands in their election manifesto on Thursday, promising to double the cost to an employer of hiring a skilled worker from overseas.
The report said that even with a later retirement age, Britain faces a demographic time bomb, and needs migration of 130,000 a year to maintain the working population at its current level, reports the Guardian. "The dependency ratio -- the number of people of working age (16-64) versus those over 65 -- is worsening. Between 1950 and 2015, this fell from 5.5 to 3.5. Only the recent increase in net migration has prevented it from falling even more precipitously," it said. "Between 2000-2050, more than 65 people will be doubled, but the number of 85 overseas is four times lower, and the proportion of the working population needs to maintain a proportion to its current ratio".