Homegrown talent shortage threatens UK recovery

Senior businessmen are warning that Britain must embrace the concept of increased immigration replacing the lack of home-grown skills or face a faltering economic recovery.

Immigration is a hot political potato with the UK electorate at the present time, with many Brits urging governmental restraint on the vast numbers still entering the country. However, think-tanks are advising that increasing immigration numbers on a selective basis may be the only way to avoid a slowdown in the country’s economic recovery.

Recent forecasts estimate that GDP is set to surpass pre-2008 levels for the first time since the financial crash, according to a business trends report by the accountancy and business advisory group BDO. However, the report also states that, if the present skills shortage isn’t addressed, the result might be a significant slowdown in the recovery.

According to the report, there is increasing worldwide evidence that immigration in general has a disproportionately positive effect on economies, in spite of its causing controversy amongst the electorate. The British Chamber of Commerce has also noted a shortage of necessary skills amongst job-seekers, and seemingly would welcome selective immigration of the type now used by Canada, Australia and New Zealand.

The BCC also noted the high levels of unemployment amongst Britain’s young people, at present expected to run at three times the country’s average over the next three years. With a general election due in 2015, overseas talent looking to emigrate to the UK will be watching developments with interest.