It also showed that if annual immigration were to remain at present levels of 260,000 the economy would grow more quickly. The OBR said that higher immigration would raise the annual growth rate over the next five decades from 2.4 per cent to 2.7 per cent. Under these circumstances the size of the fiscal consolidation needed to bring down the public debt to 40 per cent of GDP would be three times smaller, at just £4.6bn.
Source : The independent
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