Responding to Boris Johnson's latest Brexit intervention, Daniel Pryor says warm words on free markets are not enough. While we welcome the idea of simplfying tax and defense of competitive markets, it will mean little if his promises on migration will harm investment, business and the lives of those who seek to make a home here Daniel Pryor, Head of Programmes at the Adam Smith Institute, said:
“High levels of income tax damages investment, economic growth and innovation—so it’s good to see a competitive tax system being defended. Simplifying our needlessly complex property taxes into one straightforward levy on land values will encourage investment and help end the housing crisis.”
“Cracking down on immigration won’t solve Britain’s productivity woes—it will make matters worse. The Migration Advisory Committee recently found that immigration increases productivity by contributing new skills and ideas, doesn’t lead to less training for native workers, and has little to no impact on wages.
“Boris is right that Britons deserve a pay rise. But that won't come from locking foreigners out of the economy. When women entered the office that didn’t destroy the world of work for men. Newly arrived citizens buy things we make here, live here, eat here, and contribute their skills to our economy. They encourage existing workers to upskill. If politicians want to increase the value of workers’ pay packets, they’d stop pickpocketing them with the highest tax burden in half a century.”
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