Boris: Migration has allowed corporations to hold down wages

In a major speech today Brexiteer Boris Johnson is to set out his stall and vision for the country, including a crucial intervention on mass migration which he will point out has led to corporation holding down wages.

Speaking today at the HQ of JCB, the company of Leave donor and businessman Anthony Bamford, Boris is expected to say: “Yes (Brexit) was about democracy… but that vote, was also triggered by a feeling that in some way the people of this country has been drifting too far apart and in areas where we need to come together.

“We all know about boardroom pay and the huge expansion in the last 25 years of the gap between the remuneration of FTSE 100 CEOs and the average workers in their firms.

“We know one of the ways big corporations have held wages down is that they have had access to unlimited pools of labour from other countries.”

It is a fact that since the number of EU workers in the UK has fallen slightly, wages have increased at their fastest since 2008. Something the mainstream media have totally ignored.

He will go on to argue that: “I am a free market capitalist and a passionate believer in the benefits of migration.

“But there must be a balance and if an influx of labour is being used not only to prevent investment in capital equipment but also in the skills and prospects of young people then we need to think carefully about how we control immigration.

“Because if we want the people of Britain to have a pay rise, as I do, then we can’t expect to do it by simply controlling immigration, we have to address all the causes of the productivity gap that has so massively expanded.

“I don’t mean the gap between the UK, France Germany and Italy, though we are behind our main competitors the most worrying gap is between London, the most productive part of the whole European economy and other regions in the UK.

Calling for action to unite the country, he will argue that: “If you look at the distribution of the Brexit vote, it is clear that people felt that gap in attainments and prospects and that they wanted something done.

“If we are to bring our nation together that means investing in great public services and safer streets, better hospitals, better transport links and better housing.”

When it comes to change in the economy: “We must…create the most favourable tax environment with no new taxes and no increases in rates and no one rich or poor to pay more than 50% of their income in tax.

“Not because we want to create a tax haven for the rich but because that it is the way to stimulate the income we need to pay for this national programme of cohesion.”

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Post-Brexit the UK has a fantastic opportunity, unconstrained by the European Union, to slash migration and create a hugely attractive environment for business to invest in. The time has surely come for a Brexiteer Prime Minister sooner or later and that could well be Boris.