European immigration in UK – They cost to government £408.12 per second and contribute £463.35 per second in revenues

This report has been commissioned by Rapid Formations to develop a firm understanding of European migrants who choose to settle in the United Kingdom and assess whether they pose any impact on the UK’s economic stability. Overall, research suggests that migrants from the European Union pose a statistically significant net benefit to UK public finances – with the average European migrant contributing 13.5% more in taxes than they are receiving in government-funded public services. The average European worker is better educated and more likely to be employed than natural-born UK citizens. They are also more likely to start their own businesses, and maintain higher earning salaries than other UK-born workers. This consequently suggests that European immigration is a largely positive component within the UK economy, and contradicts stereotypical portrayals of migrants living in the UK.

Headline figures:

• 28 EU migrants enter the UK every hour (10 EU migrants leave the UK every hour)
• EU migrants cost the UK government £408.12 per second in public expenditures, and contribute £463.35 per second in revenues
• 62% of EU migrants come to the UK for work (12% to study)
• Over a third of all EU migrants that come to the UK seeking work have a job waiting for them upon arrival
• At £28,699, the average salary of an EU migrant worker is 7.6% higher than the average UK worker
• A third of EU workers are classified as professionals, associate professionals or senior management officials
• Migrants are 6.8% more likely to start a company in the UK than natural-born citizens
• Most EU migrants come to the UK from Spain, Poland and France (most migrants leave the UK for Spain, France or Germany)
• Migrants are most likely to settle in London, Greater Manchester or Birmingham
• 35% of Europeans leaving the UK do so for work-related reasons (and four out of five work seekers have a guaranteed job waiting for them abroad)

Chosen excerpts by Job Market Monitor. Read the whole story at  TRUTH BY NUMBERS – An investigation into the financial impact of European immigration in the United Kingdom