With inflation as high as it is, 'there are benefits to having workers come in', the institute says.
Gita Gopinath said with inflation as high as it is, "there are benefits to having workers come in"Immigration that fills gaps in the domestic jobs market can help push down UK inflation, the deputy head of the International Monetary Fund has said.Yet the IMF's Gita Gopinath told BBC Newsnight that "with inflation as high as it is... there are benefits to having workers come in".
Economists have identified the UK's tight labour market, exacerbated by the impact of Brexit on flows of European Union workers and the impact of the Covid pandemic, as one of the main contributory factors to high domestic inflation. "So just identifying how much is purely Brexit becomes much harder to do. But if you look at the more recent estimates by the Bank of England and others, this is in the ballpark.
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