Net zero migration would need major tax rises to plug 37bn black hole, experts warn
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Net zero migration would need major tax rises to plug 37bn black hole, experts warn
"From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging."
"Slashing net migration to zero would shrink the economy and require a swathe of tax rises or an increase in borrowing in order to plug a 37bn funding shortfall, a leading economic think tank has warned, in what is a major blow to Reform UK's immigration plans. The National Institute of Economic and Social Research (NIESR) said such a scenario would put pressure on the public finances in its latest economic outlook report,"
The Independent emphasizes deploying journalists to cover reproductive rights, climate change, Big Tech and investigative stories, funded by reader donations rather than paywalls. A leading economic think tank warns that slashing net migration to zero would shrink the economy and create a 37bn funding shortfall, which would require substantial tax rises or more borrowing to plug. The National Institute of Economic and Social Research (NIESR) says a net zero migration scenario would put pressure on public finances and be fiscally unsustainable without significant tax increases. Official figures show net migration fell to 204,000 in the year to June, down 69% year-on-year.
Read at www.independent.co.uk
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