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UK s headstart on reopening the economy is set to reverse Covid emigration, says Goldman Sachs

Worker exodus will be reversed if jobs come rushing back Britain will be more attractive to foreign workers if the vaccine scheme prompts a stronger rebound, Goldman economist says 7 April 2021 • 6:16pm Britain is set to become a magnet for international workers again if the vaccine allows a more rapid reopening of the economy, according to a top economist. Large chunks of the EU are going back into lockdown as the latest wave of Covid sweeps the continent, meaning those who left Britain in the tough first wave may be tempted to return to the stronger economy. “Given substantial differences in vaccine rollout progress and Covid restrictions between the UK and EU countries, we are expecting an earlier and stronger initial rebound in the UK,” says Steffan Ball, an economist at Goldman Sachs.

Boomer generation s retirement will hurt economy

Boomer generation s retirement will hurt economy Lower immigration will also contribute to an economic slowdown that threatens to overshadow this decade 5 April 2021 • 7:02pm Britain’s ageing population and lower rates of immigration will put the brakes of economic growth in the 2020s, City forecasters have warned. The supply of labour will be curbed by the Boomer generation retiring and an immigration clampdown, halving the growth rate in the workforce, according to Pantheon Macroeconomics. Growth in workers will slump to an average annual rate of just 0.3pc over the next five years, down from 0.8pc in the second half of the 2010s, it predicted.

Britain: How two decades of EU migration went into reverse

Britain: How two decades of EU migration went into reverse
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The cities in the North and Midlands where house prices are forecast to soar

The cities in the North and Midlands where house prices are forecast to soar We reveal the areas that are most in demand with buyers – and what you can buy there Manchester, Nottingham, Leeds, Leicester Credit: Getty; Alamy The pandemic has helped drive a steep fall in London’s population for the first time in 30 years. Analysts from the Economic Statistics Centre of Excellence suggested that 700,000 people left the capital last year, equal to 8pc of the population – which has led to a dip in demand for homes. But not everyone is abandoning city life: other British cities are experiencing their highest house price growth for a decade.

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