Brexit Affect On Australia
Will Brexit have a major impact on global trade and specifically what will be its impact on British migration to Australia?
After the initial panic things seem to be settling down, the world has digested the news and its business as usual. George Osbourne announced that corporate tax will be reduced, this has been done to encourage multinational to stay in the UK and compensate them for any loss due to EU tariffs, this could have a twofold impact, this may encourage industry to stay in the UK and also result in increased skilled migration to the UK which can only benefit the future growth of The UK economy.
Many British with Australian passport rushed to banks in Australia to transfer cash to the UK, this suggests that many British Expats still value assets in the UK and are merely bargain hunting, the net impact will be to strengthen the UK economy as more cash arrives into the UK.
The weaker pound is encouraging foreign investors to buy into the UK property market, having a positive impact on the UK economy. Many Exporters have seen an increase in their order books, from Asia and Africa as British goods become cheaper as a result of the weaker pound.
Many Eastern European migrants who are in the UK and have been living there for 5 years or more will be able to stay in the UK, There are over 3 million EU citizens in the UK most are highly talented and will make great new UK citizens. Most want to stay clearly they have more confidence in the UK Economy than their own.
It is most likely that a new treaty with the EEC will be a moderate agreement which should give the Brexit a soft landing.
What will be the impact on Migration to Australia, in our opining it will be business as usual, Australia continues to have skills shortages in many areas, from Accounting, IT , engineering to most trades such as building workers, carpenters, electricians and plumbers, the health sector also continues to need skilled staff like nurses and doctors.
The Australian life style will always be a great attraction for the Brits, the shared history of the two nations will always ensure a close relationship for many years to come and UK migration to Australia will continue at a health level.
Need visa advice for Australia? Contact us today at hello@immigracious.com.au
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