Uncontrolled EU migration drives wages down
LONDON – England – Vote Leave Chair Gisela Stuart responds to TUC report which claims that wages will fall if we leave the EU.
Responding to the TUC report which claims that wages will fall if we leave the EU, Vote Leave Chair Gisela Stuart said:
‘The EU has been a disaster for workers, with unemployment in the double digits across the eurozone and harsh austerity measures implemented at the expense of vital public services.
‘The head of the In campaign Lord Rose has himself said that workers will get a pay rise if we Vote Leave. And as the Bank of England has confirmed, uncontrolled immigration has played a key role in bringing down wages.
‘After we Vote Leave, we can take back control of immigration and spend the £50 million we send to the EU every day on our priorities.’
The Head of the IN campaign has admitted wages will rise if we Vote Leave.
The Head of the IN campaign, Lord Rose admitted wages will go up’ if we Vote Leave, stating: ‘If you are short of labour, the price of labour will go up‘.
BlackRock Investment has also admitted the same thing.
The Bank of England has found that uncontrolled EU migration drives down wages.
It is well established that having more people in the workforce drives down wages.
The Bank of England has found that ‘the immigrant to native ratio has a small negative impact on average British wage‘. The study found that ‘immigrants in recent years are most predominant in low-skill occupations‘.
The study concluded that: ‘the biggest effect is in the semi/unskilled services sector, where a 10 percentage point rise in the proportion of immigrants is associated with a 2 percent reduction in pay‘.
Unemployment across the eurozone continues to dwarf that in the UK
Eurozone unemployment rate (seasonally adjusted) was 10.2% in April 2016.
Unemployment rate in Greece was 24.2% (February 2016) and 20.1% in Spain.
From Jan-Mar 2016 the unemployment rate in the UK was 5.1%.