Sunday, July 16, 2023

Contribution of immigrants the building and prosperity of the United Kingdoms?

 Immigration has had a positive impact on the building and prosperity of the United Kingdom. Here are some of the ways in which immigrants have contributed to the UK economy and society:

  1. Increase in labor force: Immigrants are more likely to be of working age, and the majority of migrants come for work or study
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     They may bring dependents, but generally, net immigration leads to an increase in the labor force, a decline in the dependency ratio, and increases the potential output capacity of the economy
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  2. Increase in aggregate demand and real GDP: Immigrants contribute to the economy by increasing aggregate demand and real GDP
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     They spend money on goods and services, which creates jobs and stimulates economic growth.
  3. Positive fiscal contribution: Immigrants have made a positive fiscal contribution to the UK economy
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     Immigrants from outside the EU countries made a net fiscal contribution of about £5.2 billion, thus paying into the system about 3% more than they took out
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     Between 2001 and 2011, recent immigrants from the A10 countries contributed to the fiscal system about 12% more than they took out, with a net fiscal contribution of about £5 billion
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     The net fiscal balance of overall immigration to the UK between 2001 and 2011 amounts, therefore, to a positive net contribution of about £25 billion, over a period over which the UK has run an overall budget deficit
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  4. Source of foreign income: Migrants can be a source of foreign income, e.g., tuition fees from foreign students
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     However, migrants may also send a substantial portion of their earnings to relatives abroad, reducing the net benefit to the UK economy
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  5. Increased productivity: Immigration has made the UK a more productive economy and a more prosperous country
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     Immigrants have contributed to innovation, entrepreneurship, and the development of new industries
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In conclusion, immigration has had a positive impact on the building and prosperity of the United Kingdom. Immigrants have contributed to the UK economy and society by increasing the labor force, aggregate demand, real GDP, and productivity. They have also made a positive fiscal contribution to the UK economy.

Citations:
[1] https://www.jstor.org/stable/3657331
[2] http://www.parliament.uk/documents/upload/GovernmentResponse.pdf
[3] https://www.economicshelp.org/blog/6399/economics/impact-of-immigration-on-uk-economy/
[4] https://ukandeu.ac.uk/immigration-has-made-the-uk-more-productive-and-prosperous-and-will-again-in-the-future/
[5] https://www.ucl.ac.uk/economics/about-department/fiscal-effects-immigration-uk
[6] https://academic.oup.com/oxrep/article/38/1/82/6514758

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