Millions of young Brits planning to emigrate later in life

Following a government warning over skills shortages due to the UK’s ageing population, a poll has revealed that 20 per cent of young people want to emigrate by the time they hit 40.

A depressing report by the Office of Budget Responsibility issued last Friday warns that a worsening of UK state finances is the inevitable consequence of the ageing population. The office’s solution is to admit over 140,000 immigrants annually, thus steadying the balance between retirees and tax-paying workers.

Today’s release of figures from a study by GlobalVisas suggests that, by their age of peak productivity and tax-paying, at least 20 per cent of today’s young workers will be happily settled in expat locations across the world. According to the survey, the main reason for the upcoming exodus will be the possibility of higher salaries and a better lifestyle.

Over 1450 young Britons between the ages of 18 and 25 took part in the survey, with 21 per cent stating a firm intention to move abroad before their 40th birthdays. The main reason given was that, by then, they would have saved enough and gained enough work experience to be able to command a higher salary outside the UK.

Other reasons for leaving were that more employment opportunities existed outside Britain, with 32 per cent of respondents stating that the world was bigger than the UK. Just 7 per cent said they were concerned about future overcrowding in UK cities.

According to GlobalVisas, it’s unsurprising that younger Britons may wish to move abroad away from such restrictions whilst they are still young and productive. The survey results may cause concerns for future governments and citizens close to retirement, as financial pressures on pensions and benefits may result from a decline in government tax revenues due to higher earners leaving the country.