will go up, and over time, you are talking about interest rates above 5% here in the uk. that s going to be really painful, though, isn t it, for a lot of households, inevitably? so, the economy has still a lack of demand in it, a lot of demand in it, which is one of the reasons why we upgraded our growth for the uk. but we know that if we don t bring inflation down durably, that s a much worse situation to be in, even in terms of labour markets, in terms of growth, in terms of living standards. we have record net migration. more than 600,000 people came to the uk in 2022. there is some disquiet about that. some are saying that that s too much. i think the prime minister himself has said he wants to bring those numbers down. but on the other hand, the uk economy, as we ve discussed, is crying out for labour. our view is that if you have a well designed immigration policy, the evidence is that that s usually beneficial for the country. you know, you get. the workers who come in, eventua
and in this context, with inflation as high as it is, you know, having workers who can fill the shortages in some of the sectors that we re seeing right now will help with inflation right now will help with bringing inflation down, so i think there are benefits to having workers come in. again, it has to be a well designed immigration policy. so, a record net migration to the uk is actually helping keep inflation down in the uk? i think there is a benefit to be had by getting the right kind of workers in sectors where you have shortages, and the experience worldwide has been that usually immigrants add to the value of the economy. there s obviously a cultural element to migration as well. i mean, you re an indian american. does some of the language, some of the rhetoric around migration, does that concern you, that we ve seen in recent years, notjust in the uk, but globally? i like to think as an economist, i m just staring at the evidence that seems contrary to some of the fears that
that s unlikely this side of a general election, at least, but the pressure would certainly go up for more government money or more money via students as fees if they lost the income from international students,. and it s perhaps worth asking whether students should be considered immigrants at all, given they are doing time limited courses. there s some evidence that this is what many people think. when the think tank british future asked people in 2014 what they considered to be migrants , a high proportion said that this applied to unskilled labourers, refugees, eu citizens looking for work and also dependents. yet international students? only 22% said they thought this group were migrants. that said, the increasing number of dependents could change attitudes. and, while history suggests most overseas students will leave the uk after their courses finish, we can t be certain about what proportion so the long term implications of these student numbers for annual net migration is in
rejoicing over dan s cancellation on the grounds he was an anglican lib dem and that was two strikes against him. you re contributing to this kind of witchhunt. him. you re contributing to this kind of witchhunt. thank you, i m afraid i kind of witchhunt. thank you, i m afraid i will kind of witchhunt. thank you, i m afraid i will have kind of witchhunt. thank you, i m afraid i will have to kind of witchhunt. thank you, i m afraid i will have to leave - kind of witchhunt. thank you, i m afraid i will have to leave it i kind of witchhunt. thank you, i m afraid i will have to leave it right l afraid i will have to leave it right there. i afraid i will have to leave it right there. .. afraid i will have to leave it right there. . afraid i will have to leave it right there. thank| there. i don t recall that. thank ou ve there. i don t recall that. thank you very much there. i don t recall that. thank you very much indeed. - we are used to talking about migration in economic term
discussion about how she would attend course with those people. harper attend course with those people. how are thin . s attend course with those people. how are things in attend course with those people. how are things in whitehall out of these net migration increases? it are things in whitehall out of these net migration increases? are things in whitehall out of these net migration increases? it could be a big motive net migration increases? it could be a big motive net net migration increases? it could be a big motive net migration - net migration increases? it could be a big motive net migration heads i net migration increases? it could bei a big motive net migration heads up to thei million mark. a lot of irritation in number ten the whips office with the home secretary criticising that figure when of course it is her area of responsibility. this is a big moment for the prime minister. if you spoke to his aides recently, they would say his focus is on bringing down what he