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City analysts today warned the government that the British economy is set to witness a recession which could last up to 18 months. Capital Economics predicts that the gross domestic product for the...
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Tuesday 3rd June 2008
Over the last few years the subject of migrants flocking to the UK from the likes of Poland has been at the centre of much controversy and debate. When the UK economy was going well there were complaints that many of these new visitors to the UK were taking much needed employment and causing problems for the domestic work force. However, after a period of sustained growth for the UK economy it seems that many of the migrants who moved to the UK for employment are actually returning to their homelands.
This has also caused an interest debate within economic circles with many now associating the rise in the UK economy with access to cheap labour from overseas workers. Now that the ‘cheap’ labour is leaving the UK there are worries that we will see an increase in basic UK employment costs across a number of business sectors. Perhaps worst hit will be the catering and entertainment industries which seem to have made use of new workers to the UK who would accept lower wages than many UK residents.
It will be interesting to see if the influx of migrants picks up again when the UK economy returns to the black and starts to move forwards again. |
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