RE: Brexit, the backwash of jobless

[spark]

@spark

Now that a very scared UK Gov are about to push Article 50 and start the EU exit, how many millions of Eastern Europen economic migrants will panic in the next 24 months and rush home?

What will the impacts be?

In the UK, buy to let could slump or worst

CEE home prices could jump upwards

Unemployment in CEE will boom, the economies having totally failed to generate jobs "might" see newly funded private returnees create jobs, that's the only hope. And we must not forget that "a'" key aim of the EU into UK agenda was to dump unemployment into the UK to crush domestic wages and shift the unemployed out of home nation states.

= house prices will level off and become affordable again in the UK for regular buyers and not just speculators. The labour market will tighten and wages will rise. Hospitals will have beds, schools will have places and transport will flow a little better due to less volume of people.

 

[AspiringSoul]

Non-EU immigration is considerably higher than EU immigration despite the strict rules in place. EU immigration won't stop, it'll just continue the way non-eu immigration has. You're looking at a slightly better quality of immigrants that's all.

It might affect buy-to-let but when you have more skilled immigrants with higher salaries coming here I would imagine property prices will remain high.

 

[spark]

Good feedback. I think the big issue is about the outrageous subsidy in the name of "tax credits" paid to subsidise low (underpaid) workers. The imposition of the so-called minimum wage and zero hour contracts, simply means that the market is artificial with grossly oversupplied labour from CEE. Once the EU disaster is over for the UK, those payments are no longer acceptable to Eastern European workers. I think the "true" cost of labour will make many opt to go home. This could result in a massive impact on buy-to-let and a scary stampede homewards. Just think if you were a Polish worker back home. You will face people coming home and competing in the jobs market and setting up businesses. We might call these the "new rich". They will be massively more able than those who stayed at home and have not been exposed to the UK market. Therefore, I think the UK is facing a major change in the labour market and the CEE markets are about to see a huge backwash of money and job competition