Anyway, I said that Tory plans to cut immigration would lead to lower growth and tax receipts than the Office of Budget Responsibility was projecting. And now the FT agrees:
David Cameron’s proposed cap on immigration will stunt economic growth and cost families around £300 a year in higher taxes or lower public spending, according to the government’s own forecasting models.
The prime minister’s pledge to bring net immigration down to the level of the 1990s will hit output by as much as 1 per cent and cost the exchequer £9bn a year in foregone tax revenues by the end of the Parliament.
To ensure the independence of the OBR is not challenged, it will have to cut its assessment of the potential growth rate to reflect slower growth in the population
Basically, I’m brilliant. And very reasonably priced.