Exposing BNO’s dream 2: Britain’s economic lifeline: 1.3 million immigrants fled

Since January 31, the British government has allowed eligible BNO holders to apply for special endorsement to stay in the UK. Since the UK decided to leave the EU, many financial and manufacturing industries have withdrawn, employment opportunities have been greatly reduced, and the UK government has failed to fight the epidemic, resulting in the highest number of confirmed cases and deaths In Europe alone, as many as 1.3 million new immigrants left the UK last year, which has been described as an “unprecedented escape”. The UK is really a place worthy of immigration? At least for the immigrants who are already in the UK, the answer is No.

Exposing BNO's dream 2: Britain's economic lifeline: 1.3 million immigrants fled

Emigration seeking development: less types of work, less foreign tide

Exposing BNO's dream 2: Britain's economic lifeline: 1.3 million immigrants fled data show that a large number of immigrants leave the UK.

The centre for economic statistics Excellence (escoe), a semi official think tank in the UK, published a report two weeks ago. It pointed out that between July 2019 and September 2020, a total of 1.3 million overseas born people will move out of the UK, with 700000 people fleeing London, equivalent to 8% of the local population. The report pointed out that under the epidemic situation, many jobs relying on foreign workers in the UK will be greatly reduced, Including the hotel industry, catering industry, manufacturing industry and construction industry, many immigrants or foreign workers are unemployed and simply go back to their hometown or other parts of Europe to seek development.

However, for many immigrants, the epidemic situation is only the fuse that urges them to leave the UK, and the long-term decisive factor is brexit. Many immigrants see that in the past few years, the UK has experienced a wave of exclusion due to brexit disputes, coupled with the political turmoil surrounding brexit, and they lose confidence in the future of the UK, especially the immigrants from Europe.

The latest survey by British headhunting companies Adecco and YouGov also found that as many as 40% of London residents consider moving to Europe, which is much higher than 18% of the same survey in 2018. It shows that after brexit, London has greatly reduced its attraction to some people with higher immigration ability. Adecco pointed out that although the UK finally reached an agreement with the European Union on brexit and also preempted the launch of a new crown vaccine, the UK still faces challenges The very uncertain future has prompted more and more young people to leave London and even the United Kingdom to seek new opportunities. In the long run, the United Kingdom will face a shortage of talents and a blow to the local economic recovery.

Foreign investment falls to negative value: Science and technology enterprises withdraw to New York and securities position declines

Exposing BNO's dream 2: Britain's economic lifeline: 1.3 million immigrants fled the UK lost a lot of foreign capital due to brexit. The picture shows the London Stock Exchange.

After brexit, the economic outlook of the UK has deteriorated seriously, and many foreign investors have kept away from it. The latest report of the UN forum on Trade and development (UNCTAD) pointed out that the inflow of foreign direct investment (FDI) in the UK recorded a negative growth last year, from US $45 billion (about 3, In the same report, China was ranked as the largest foreign capital inflow country, with an increase of 4% to US $163 billion (about HK $1.26 trillion).

Not only has Britain lost its attraction to foreign investment, but even domestic enterprises no longer regard it as a good place for development. It is reported that two emerging high-tech enterprises are planning to abandon London and seek to go on the market in New York, including immunocore, which develops cancer drugs, and blue prism, which specializes in mechanical automation programs Prism management said frankly that the UK stock market is too small and liquid, and investors lack knowledge of high technology.

Since brexit, as many as US $8 billion (about HK $62 billion) of European corporate stock turnover has been transferred from the London Stock Exchange to the exchanges in Paris or Amsterdam, marking the decline of London’s role as the European stock exchange center.

The status of financial center is not guaranteed: 7000 jobs lost

Exposing BNO's dream 2: Britain's economic lifeline: 1.3 million immigrants fled the British economy is in trouble and many people have lost their livelihood.

Many Hong Kong people immigrated to the UK, thinking that they could “make a big show” in London, where the financial industry is well-developed. However, since brexit, the advantages of London’s financial industry in Europe have gradually disappeared. Many financial institutions have moved to Europe, which has greatly reduced the number of jobs in London’s financial industry. Bank of England president berry disclosed earlier that 5000 to 7000 jobs have been lost in the UK’s financial industry due to brexit.

Although London has been a European Financial Center for many years, after brexit, the financial regulatory regulations of the United Kingdom and Europe “separated”. Financial institutions based in London can no longer freely do business in Europe as in the past. Many European countries took the opportunity to recruit multinational financial institutions to settle in Europe.

The financial industry is one of the major economic pillars of the UK, accounting for about 7% of the country’s productivity, and the EU accounts for 40% of the local financial industry’s exports. However, when the UK and the EU negotiated trade agreements, the financial industry has not been touched, and the UK has failed to win the EU’s concession on the terms of reciprocal supervision, which greatly reduced the competitiveness of the UK’s financial industry after brexit.

900000 small and medium-sized enterprises close down: young people are the first to be fired

Exposing BNO's dream 2: Britain's economic lifeline: 1.3 million immigrants fled small and medium-sized enterprises have difficulty in doing business.

Since new year’s day this year, the United Kingdom has officially left the European Union. Many small and medium-sized enterprises can no longer enjoy the simple customs clearance treatment in the past when they export goods to Europe. Coupled with the continuous closure of cities under the epidemic situation, many small and medium-sized enterprises find it difficult to do business. According to a new study, as many as 900000 small and medium-sized enterprises in the United Kingdom will face bankruptcy or bankruptcy with the end of the British government’s epidemic situation protection and employment subsidy in April 2.5 million jobs may be lost due to the closure crisis.

The UK recently announced that from September to November last year, the unemployment rate rose from 4.9% to 5%, a new high since 2016. In the 25-34 age group, every 1, There are 16.2 people who have been laid off or dismissed in the period of 2000, which has increased by four times year on year, higher than all age groups. Since the outbreak of the epidemic, the number of jobs in the UK has decreased by 828000, which is the most serious since the financial tsunami. Since this figure has not yet been calculated, the unemployment rate will increase once the relevant subsidies are ended and the enterprises can not continue to maintain It’s bound to explode.

Editor in charge: Mu Yu


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