The Bank of England acknowledged that mass movement is a major contributor to the country’s rising rent costs, more discrediting neo-liberal intelligence’s says that unrestricted waves of migration result in economic growth.
The key bank’s chief economist, Huw Pill, refuted the notion that the rise in rent prices in England was just a function of monetary policy, noting that not enough homes were being constructed to accommodate the historically low rates of immigration permitted under the so-called Liberal government.
” The population is growing … To some extent, the rents are really a reflection of supply and demand factors ]and ] reflect things that are n’t to do with monetary policy”, Pill said according to The Telegraph.
The BoE’s best economist noted that “quite big immigration increases” were causing the housing market’s pressure, with net migration reaching a record 745, 000 in 2022.
” We do n’t really build enough houses in this country. And [there are ] a lot of issues around planning and other things, which is a major reason why we do n’t build enough homes or homes in this country.
” So there’s a restriction on offer, which I think probably is not coming from financial coverage, it’s coming from different coverage choices … And at the same time that is facing – and exceedingly so – in recent times, increasing demand.”
The remarks come as anti-Brexit and mass migration recommend Jeremy Hunt praised the country’s financial track record, which included higher taxes and light spending cuts, as the country recovered from recession by growing by a meagre 0.6 % in the first quarter of the year after two quarters of negative growth.
The Treasury Secretary said,” It has been a challenging several times, but yesterday’s growth figures show that the economy is returning to whole wellbeing for the first time since the superbug.”
Mass Migration Putting’ Unbearable ‘ Strain on Housing Market, as Hundreds of Thousands of New Homes Needed to Meet Need tls ://t.co/WMsP5aqqOx
— Breitbart London ( @BreitbartLondon ) May 29, 2023
However, a more accurate preview looks at GDP per capita, as even if GDP per capita increases, the average person may still be getting poorer, as governments around the world frequently cite regional GDP as the main indication of their nations ‘ financial well-being.
When considering inflation and population growth, which have mostly been caused by mass migration, the most recent Office for National Statistics ( ONS ) figures for the most recent calculations indicate that GDP per capita was 0.7 % lower than the previous year. In other words, the typical Briton is now worth an additional £100 less than they did a few years back.
A report released this week from the , Centre for Policy Studies ( CPS), which found that while GDP per capita decreased by 0.8 % in comparison to the UK’s national GDP, GDP per capita increased by 0.1 % last year. Despite the UK experiencing the second-highest levels of migration-driven population growth, this was significantly below the G7 regular of 1 %.
We must ask ourselves why we do n’t see this in the GDP per capita data if large-scale migration like the one we’ve seen is really so beneficial to the economy, the CPS said.
According to the report, movement now accounts for about 89 percent of England’s “housing gap,” which tracks the gap between community growth and the lack of homes built to keep up with the demand.
The issue is likely to only get worse as neither main party has any desire to change the pattern of large movement, with the Stats forecasting a projected increase of nearly 7 % by 2036, bringing the people to nearly 74 million, an increase of over 6 million more people than the current degrees.
Narrative Collapse: Mass Migration Not Driving Economic Growth, Report Finds https ://t.co/26juD59MD0
— Breitbart London ( @BreitbartLondon ) May 9, 2024
