Brexit ‘unlikely to mean deep migration cuts but may lead to 2p tax increase’

Economist Jonathan Portes says Brexit is likely to cut net migration to UK by only 100,000 but reduction will cause financial harm

It will be "extremely difficult" to deliver deep cuts in immigration if Britain leaves the European Union, a leading British economist has warned.

If cuts of 50% were achieved, the long-term consequences would lead to a 2p increase in income tax, according to Jonathan Portes, a former chief economist at the Cabinet Office.

Related: EU referendum: top economic thinktank warns of post-Brexit shocks