Skip to content
CityAM
Main navigation
  • News
    • News
      • Latest Business News
      • Economics
      • Politics
      • Tech
      • Banking
      • FTSE 100 Live
      • Retail
      • Insurance
      • Legal
      • Property
      • Transport
      • Markets
    • From our partners
      • AON
      • Bayes Business School
      • Canada BIDs
      • Central London Alliance CIC
      • Destination City
      • Halkin
      • Olympia
      • Inside Saudi
      • Tottenham Hotspur Stadium
      • Santander X
      • YEAR SIX Dividend
    • Featured

      Healey condemns Reeves: ‘Our adversaries do not follow timetables set by the Treasury’

      Massachusetts Governor Maura Healey speaking at a press conference, addressing state initiatives and policy updates

      Submit a story

      Tell us your story.

      Submit
  • Opinion
  • Sport
    • Latest Sports News
      • Sport
      • Sport Business
    • From our partners
      • The Morning Briefing: SBS x CityAM
      • Aramco Team Series
      • LIV Golf
    • Featured

      Brits urged to back UK pubs during World Cup amid booking surge

      Getty Images logo on a smartphone screen against a blurred background, representing media and stock photo industry branding.

      Submit a story

      Tell us your story.

      Submit
  • Life&Style
    • Life&Style
      • Life&Style
      • Toast the City Awards
      • The Magazine
      • Travel
      • Culture
      • Motoring
      • Wellness
      • The RED BULLETiN
      • Do it with Shared Ownership
      • Media Speak Hub
    • Featured

      Old Pulteney releases 50-year-old whisky for 200th anniversary

      Old Pulteney 50-Year-Old single malt Scotch whisky bottle with elegant packaging on display, highlighting luxury and craft...

      Submit a story

      Tell us your story.

      Submit
  • Investec
  • Events
  • Latest Paper
Friday 25 February 2022 6:30 am  |  Updated:  Thursday 24 February 2022 6:14 pm

Russia will weaponise a refugee crisis if we’re not prepared to open our arms

By: Ben Ramanauskas

Add as a preferred source on Google
US Forces In Poland Prepare For Evacuees From Ukraine
People carry suitcases as they exit a train arriving from Kiev at Przemysl main train station in Przemysl, Poland. (Photo by Omar Marques/Getty Images)

Putin has invaded Ukraine. He was never going to be satisfied with only taking Donetsk and Luhansk. The result will be a bloody and likely protracted war accompanied by another refugee crisis as many Ukrainians make the heart-wrenching decision to desert their home.

Britain has a long and proud history of welcoming refugees, especially from Eastern Europe. I wouldn’t be alive to write this article if my grandpa, who was forced to flee his home in Lithuania under Stalin’s rule of the Soviet Union, hadn’t been granted refuge in this country. He was never able to go home; but he was able to settle here in the UK, rebuild his life, contribute to our country and raise a family. His story is one of many people granted safe haven and a new life in Britain.

Last year, we saw the impacts of an overwhelming refugee crisis in the Channel, as 27 migrants, including children, drowned after trying to cross onto our shores on an unseaworthy vessel. We all hope there will be as few people forced from their homes as possible, but the harsh reality is many will be fleeing for a new life.

When there an inadequate or inefficient systems to deal with a surge in people seeking safe haven, they will find a way in by illegal means. They will struggle to find a new home and pay whatever they have to try and get there. The Belarusian government has, under Moscow’s orders, tried to weaponise migration to try and undermine European security. The only solution to that is to work together with the EU to ensure we all have robust mechanisms to grant fleeing Ukrainians asylum. If we do not find a way to grant them safety, they will find a way out all the same.

Migration is often accused of being a drain on the UK economy, taking jobs away from people here. But there is a great deal of academic evidence demonstrating the exact opposite: the overall economic ramifications for the welcoming nation are positive. Immigrants bring skills that are often in short supply in the host country, allowing businesses to boost productivity and provide better services for customers. Currently, we have a significant skills shortage in our country and an influx of talented and hard working Ukrainians will help to plug this gap, helping to grow our economy and making us all richer as a result.

It is also bad news for the Russian economy. If we don’t allow them to use these people as a pawn in their war, the drain of people fleeing Ukraine will make any regions the Kremlin does occupy economically challenging to administer. It will require more money from Russia to prop it up as Moscow is hemmed in with economic sanctions from the West. Putin might be able to bleed Ukraine of its resources, but at least the Ukrainian people won’t be forced to boost the Kremlin’s coffers.

There will be those who object to this. There will be inevitable fear mongering about millions of people suddenly turning up to the UK and the impact that would have on employment, wages, and housing. The entire population of Ukraine isn’t going to decamp to Britain, but we should rightly deal with those anxieties. There is a cost-of-living crisis which will only be worsened by war in Ukraine, there is a housing crisis in much of the UK – especially London. Migration is beneficial when done well and thoughtfully.

On employment and wages the evidence overwhelmingly suggests that immigration has little to no negative impact on these things. Although this might seem counterintuitive (surely an increase in supply of labour would lead to fewer jobs and lower wages), immigration can actually lead to more jobs and higher wages. It does increase the supply of workers, but it also increases the demand for goods and services, which businesses need to meet by employing more people and increasing wages to attract them.

There is a chronic housing shortage in this country, meaning that the vast majority of young and low income people in the UK are spending the majority of their incomes on rent, with very little prospect of ever owning their own home. Welcoming millions of Ukrainians would obviously exacerbate this problem.

This is all true. But we should have started building more homes a long time ago and we should welcome this as an opportunity to tackle it. The housing crisis is keeping productivity low, harming economic growth and making us all poorer as a result.

Economic sanctions must be the immediate response from the western nations, but we must also anticipate the migration crisis we will be forced to grapple with over the coming weeks and months. If we do that, we take a crucial weapon out of Putin’s arsenal.

Read more

Two-tier taxes are not the way to get Britain back to work

Robert Jenrick speaking at a press conference, addressing current policy issues, wearing a suit and standing behind a podium

Share this article

  • Facebook
  • X
  • LinkedIn
  • WhatsApp
  • Email

Similarly tagged content:

Sections

  • Opinion

Categories

  • Opinion

Trending Articles

  • As it happened: FTSE 100 relief rally runs out of steam as BP and Shell weigh; Oil hits three-month low

  • Rolls-Royce shares surge as SMR unit bags multi-billion pound Swedish nuclear contract

  • Rathbones to suspend thousands of client account inflows after FCA probe deals £530m blow

  • London Tech Week sums up everything wrong with UK tech

  • KPMG’s Summer Friday half-day rollback signals deeper woes for Big Four giants

More from CityAM

  • Two-tier taxes are not the way to get Britain back to work

    Opinion
    Robert Jenrick speaking at a press conference, addressing current policy issues, wearing a suit and standing behind a podium
  • What will markets make of the new chair of the Fed?

    Opinion
    Kevin Warsh, former Federal Reserve governor, speaking at a business conference, discussing economic policies.
  • I’m a digital strategist, here’s why I’m worried about social media

    Opinion
    Tiktok appeals to overturn US ban in a broader battle for tech regulation
  • The EU has regulated itself out of the AI race but the UK is still in the game

    AI
    Keir Starmer and Ursula von der Leyen in discussion at a political summit meeting, emphasizing UK-EU relations.
  • Labour MP: Social media ban risks locking young people out of learning

    Opinion
    Getty Images logo on a digital screen, symbolizing media and photography industry presence in news and business contexts
  • Tech Week proves London can build the future

    Opinion
    Attendees networking at London Tech Week 2026 showcasing innovation and technology advancements
  • John Healey has delivered a fatal blow to Starmer’s premiership

    Opinion
    Defence secretary John Healey is leading calls for further investment in the sector.
  • I was defence secretary, here’s how we fund our armed forces

    Opinion
    Business professionals in a modern office discussing a strategic plan with charts and graphs displayed on a large screen

CityAM Canada — business, markets and opinion for Canadian readers.

Sections

  • Business
  • Markets
  • Tech
  • AI
  • Economics
  • Opinion
  • Cities

Company

  • About
  • Contact

Legal

  • Terms of Use
  • Privacy Policy
  • Cookie Policy
© 2026 CityAM Canada. All rights reserved.
Terms · Privacy · Cookies