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To make it personal, four of Britain's 239,000 net migrants last year were Bagehot and his immediate family, moving back to London after many years abroad.
Jack Straw is frank about the failures, particularly the official projection of a mere 13,000 net migrants a year from the new EU member states.
Having failed to meet his own target of fewer than 10,000 net migrants a year, he is always on the defensive when this issue is raised.
Downing Street also struggled as it emerged that: Of the two million net migrants to the UK from the eight eastern European countries that joined the EU in 2004, just 13,000 people have claimed jobseeker's allowance (JSA).
Taking Berlin's decision to impose controls into account, Dustmann says, allows him to add 33,000 to his prediction of 13,000 migrants, giving him an actual prediction of 46,000 net migrants per year.
The projection of 13,000 net migrants per year over a decade, he explained, was based on the assumption that all 15 EU countries would open their labour markets to the newcomers, ensuring that the migrants would be reasonably evenly distributed across the EU.
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Nor did it much improve on David Cameron's commitment to cap net migrant numbers – a pledge with the dubious honour of being even more politically cynical and less practically attainable than George Osborne's fiscal targets.
But in July last year the Government's economic watchdog, the Office for Budget Responsibility OBRR), said a net 105,000 migrants were needed in the UK by 2016 to cope with an ageing population.
"The most likely scenario of population change reflected in the projections released today points to fewer net overseas migrants settling in Australia each year," she said.
In fact because of the net contribution migrants make to the economy, the longer-term impact of immigration is that it will have a positive effect on reducing the national debt, according to the Office for Budget Responsibility.
Asked what the consequence would be for the public finances if the immigration target were met, Mr Chote told the committee: "The direction would be clear enough, because obviously you would have fewer net inward migrants, the fiscal position would be somewhat worse on those grounds".
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