Hiring medical professionals from the EU has earnt the UK over £3bn in the last 5-years.
Income taxes account to almost £1.5bn, while the money saved from hiring EU medical professionals who were trained overseas totals to a further £1.6bn.
The money earnt and saved from hiring EU medical professionals in the last 5-years could pay for the entire UK government (including salaries) for that duration, and some.
With the total amount of money the UK has gained by hiring EU medical professionals between 2014 and 2018, you could:
- Run both Houses of Parliament (Commons and Lords) as well as supporting organisations for around 5-years and 7 months, at a cost of £552m per year.
- Finance two years of no-deal Brexit preparation, at an estimated cost of £1.5bn per year.
- Pay for 3,456 MRI scanners, at £895,000 per scanner.
- Pay for 562,427 hip operations, at £5,500 per operation.
- Pay the salaries of 57,928 nurses with 5 year’s professional experience for one year, at an average yearly salary of £53,400.
Daniel Kolb, CEO at Medbelle said, ”Everyone working within the UK medical profession, whether NHS or private, knows the huge value that foreign-born doctors and nurses bring to the UK in terms of their experience, wealth of knowledge and support. However, an aspect that is often overlooked from the outside is not only how much money EU medical workers contribute to the UK in income tax and social contributions, but also how much the government has saved in terms of education.
“To educate all the EU-born doctors and nurses who came to the UK between 2014 and 2018 would have cost the government over £1.6bn. We hope that this study can shine a light on the value of foreign labour in the medical industry, and that those in charge will be adequately prepared to increase funding into medical education to compensate after Brexit.”