The Brexit supporting boss of one of the country’s biggest high street retailers has admitted that when it comes to immigration it was “not the Brexit I wanted”.
In an interview with the BBC, Tory peer Lord Simon Wolfson said the UK economy had been badly hit by the loss of overseas workers since the decision to quit the UK.
He said: “We have got people queuing up to come to this country to pick crops that are rotting in fields, to work in warehouses that otherwise wouldn’t be operable, and we’re not letting them in.
“And we have to take a different approach to economically productive migration.
“In respect of immigration, it’s definitely not the Brexit that I wanted, or indeed, many of people who voted Brexit wanted.”
BusinessLive has already reported how Next was suggesting the Government could stimulate the weakened economy by cutting poor value projects such as HS2 and relaxing migration controls.
In an update signed off by chief executive Lord Wolfson in September, the business said only measures which increased the supply of goods, energy, services and skills would “cure the underlying malaise”.
Back then the business said: "Fortunately, there are a small number of powerful measures that could make all the difference.
“These include the radical overhaul of our planning system, the intelligent relaxation of controls on economic migration, energy market reforms, the liberalisation of trade tariffs and more.
"Government might also review its own capital expenditure. If they can identify and cut capital projects that deliver little value, they will reduce borrowing and release desperately needed goods and services back into the economy (without prejudging it, HS2 would be top of our list for review)."
Sectors that have been hit by shortage of workers since Brexit include agriculture, hospitality, logistics and healthcare.
In the new BBC interview Lord Wolfson – the longest-serving FTSE 100 CEO – suggested that in order to ensure UK citizens were employed first, businesses could be made to pay a 10 per cent tax on overseas workers.
He said the Government must decide if it wants the UK to be “fortress Britain”, preventing much-needed foreign workers into the country and damaging economic growth as a result.
He said: “We have to remember that what post-Brexit Britain looks like, is not the preserve of those people that voted Brexit, it’s for all of us to decide.”
The Government meanwhile said it had delivered on its promise to “take back control of our immigration system”.
Lord Wolfson added that while next year would be tough for businesses and consumers, there were signs that the cost squeeze was peaking and that the economy could bounce back strongly in 2024.
He said: “Next year will be tough but there is no need for a national nervous breakdown.”
Last week the fashion chain said sales were up marginally in August, September and October, despite the big problems facing the UK high street.
As the cost of living crisis bites the UK retail giant said year-on-year sales were up 0.4 per cent for the period – slightly ahead of initial expectations. September in particular saw a decent trading.
In-store sales for the period were 3.1 per cent up on last year while online sales were almost 2 per cent down.
The Leicestershire-based group said it still expects to hit profits of £840 million for the year, which would be 2.1 per cent up on a year before.
