The U.K. government hasn’t calculated the cost of meeting its pledge to reduce net immigration to the tens of thousands, Defense Secretary Michael Fallon said Thursday.
Prime Minister Theresa May kept the longstanding position in her Conservative party’s program for government on Thursday, with three weeks to go until the snap general election she called last month. That’s despite failing to come close to meeting the target during her six years as home secretary under David Cameron’s leadership. Annual net immigration passed 300,000 at the end of 2014, and stood at 273,000 in the year through last September.
“We’ve not costed it because we don’t know specifically what year we’re going to reach that point of reducing to exactly tens of thousands,” Fallon said in a BBC television interview late Thursday. “It isn’t going to cost billions of pounds.”
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.