The United Kingdom passed an Immigration Bill through Parliament on Monday that will end free movement from Dec. 31 forward.
What Happened: The bill gives the U.K. the power to determine who comes to the country for the first time in decades. The new migration policy brings an end to free movement in the middle of an economic crisis and COVID-19 pandemic.
Why It’s Important: The U.K. is no longer a member of the European Union, and the country’s transition period after Brexit comes to an end this year, with new rules from January 2021.
The bill has come under huge criticism.
The act of pursuing a new migration policy and ending free movement in the middle of a health and economic crisis — as the U.K. Home Office has done — is being described as “jaw-droppingly stupid” by one politician.
Related Link: Bank of England Boosts Quantitative Easing As Second COVID-19 Lockdown Begins
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
