The Spectator blog has an item about the OBR forecast and what the implications are for immigration. The OBR say this is likely to be reduced by 80,000 per year and Fraser Nelson says Brexiteers will be delighted bu this (HERE). But hang on, the OBR also says this will cost the economy £16 billion a year by 2020 and the overall additional borrowing due to brexit is put at nearly £60 billion.
Think about this. 80,000 is about 0.12% of the population, a tiny number but the cost is £60 billion. In other words we are apparently happy to borrow about £750,000 for each immigrant who does NOT come to the UK. This is insanity given the immigration will probably taper off as time goes on in any case but we will be permanently poorer. Will it be worth it? I don't think so.
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