Cutting Net Migrant Could Add £300 Billion to the National Debt
CUTTING NET MIGRATION COULD ADD £300 BILLION TO THE NATIONAL DEBT – According to the Office of Budget Responsibility David Cameron’s plans to reduce net migration to 100,000 people a year could have a devastating effect on Britain’s economy by increasing the national by some £300 billion within 50 years.
Read full story … Daily Mail
The British taxpayer has an awful lot on their plate and the area of immigration, or rather those entering the UK to fleece the taxpayer through the benefits system, has long been a bone of contention.
There are of course two sides to immigration; the first being those who come to the UK in order to live off benefits and secondly those who come to find work and contribute to the prosperity of the country.
During Tony Blair’s tenure as Prime Minister he managed to add approximately £150 billion to Britain’s national debt. Whilst this sum was considerable it paled in comparison with what Gordon Brown added, for his tenure resulted in an increase of yet a further £250 billion.
In 2010 and with David Cameron being elected to power through a coalition with the Liberal Democrats, Britain’s national debt stood at a staggering £700 billion; or approximately 2.5 times the national income.
Since Mr. Cameron took office the taxpayer has been squeezed with no end of austerity measures; all designed of course to turn around the economy and reduce fiscal borrowing.
So how successful has Mr. Cameron been in his charge of saving Britain from the possibility of bankruptcy and evidently a fate far worse than that of Greece, Italy, Portugal, Spain or Ireland?
You might be thinking that all this austerity is finally paying off for the Chancellor George Osborne has for months been talking of an economic recovery.
Unfortunately the figures tell a much different story for it is now predicted that by the time the public are provide with a General Election in 2015 Mr. Cameron and his Government would have added a further £700 billion to the national debt, rising it to the dizzying heights of £1.4 trillion, or 5 times the national income.
The economic recovery that Mr. Osborne talks of is merely one where the Government will have to borrow less next year that it did this year; hardly a recovery and more of accumulating additional debt for the austerity strapped taxpayer to bear.
Currently the concern is on migration and rightly so for we need to carefully provide a distinction between the freeloaders and workers.
It is simply not fair to lay the disproportionate blame on an ethnic minority, in this case the Romanians and Bulgarians, in that they are all looking for a free lunch and ultimately will add to the woes of the British economy.
The truth is many of them do come to the UK to work and pay taxes; something that Britain desperately requires.
Why do we need working migrants? Go back to the issue of the £1.4 trillion of debt and a large proportion of this is taken up with welfare – such is the reason people don’t like the idea of migrants.
The figures to the national debt are unfortunately only the surface figures; that is these are the sums we actually see on the balance sheet but when you add in future payments, such as pensions, this figure nearly doubles to £2.8 trillion or 10 times the national income.
What Britain needs is not a cut in migration per se but rather the ability to adequately control those entering the UK; something that the right of free movement has all but taken away.
If Britain is to stave off bankruptcy then we must accept that migrants are a vital key to the plan and therefore we must learn to embrace the ideology of attracting greater numbers from foreign populations who intend to work and can contribute to the Treasury.