In future, the economy may run into inflation bottlenecks earlier in economic recoveries than before, thus constraining growth.
Three million of them are unlikely to pitch up here, but government must plan for all eventualities – and support for its plan wouldn’t survive a mass influx.
Even though public concern about immigration seems to have eased off recently, there is reason for caution.
Javid is right to bury the “tens of thousands” target – but he needs to set out a clear pathway to lower migration.
It is unlikely that the mass of such voters in those crucial northern and midlands marginals would welcome a permissive approach.
There are few clear answers to that question, despite all the firm rhetoric flying around. What we need is more nuance and better information.