By Free Republic | Created at 2024-09-30 16:23:55 | Updated at 2024-10-01 01:50:19
9 hours ago
Britons suffer slump in living standards as migration nears record high
UK Telegraph via MSN ^ | September 30, 2024 | Eir Nolsoe
Posted on 09/30/2024 9:18:36 AM PDT by rightwingintelligentsia
Britons have suffered a slump in living standards, official data shows, as a surge in net migration wiped out any gains from economic growth.
So-called real GDP per head shrank by 0.3pc between April and June compared with a year earlier, the Office for National Statistics (ONS) said, suggesting living standards have slid backwards as the population grew.
It comes after net migration hit a near-record 685,000 last year.
Experts said the figures meant the population was growing faster than the economy, underlining the challenges facing Rachel Reeves ahead of her maiden Budget.
Paul Dales, chief UK economist at Capital Economics, said: “You have had the population growing at a faster rate than GDP. That increase in the population was almost entirely due to fairly rapid rates of inward migration.
“It suggests living standards are not really improving that much. The increase in GDP we have seen is by and large just because there are more people in the country. But on a per person or household basis, there is not any more income to go around. It is a bit worrying.”
The hit to living standards is greater than the ONS initially believed, previously estimating it at 0.1pc.
It follows soaring immigration in the years since Covid, with the population in England and Wales growing at the fastest pace in at least 75 years in the 12 months to mid-2023.
(Excerpt) Read more at msn.com ...
TOPICS: Business/Economy; Culture/Society; United Kingdom
KEYWORDS: britain; migration; unitedkingdom
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To: rightwingintelligentsia
Good. Only pain can cause the change necessary for freedom.
2 posted on 09/30/2024 9:22:04 AM PDT by JonPreston ( ✌ ☮️ )
To: rightwingintelligentsia
The invaders have taken over their nation without firing a single shot and guess who’s next in line? If that nation doesn’t start their Civil War they’re never gonna get it back. Even if they have to use rocks and sticks or whatever necessities to fend off the invaders once and for all. Start with London.
3 posted on 09/30/2024 9:23:38 AM PDT by RoseofTexas
To: JonPreston
4 posted on 09/30/2024 9:23:46 AM PDT by rktman (Destroy America from withinE? Check! WTH? Enlisted USN 1967 to end up with this💩? 🚫💉! 🇮🇱👍!)
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