A number of Friday's papers lead with new figures showing that net migration to the UK stood at 606,000 and hit a record high in 2022. The Daily Mirror describes the situation as "immigration chaos" and says that MPs have accused the government of creating a "climate of intolerance amid utter incompetence".The figures mean Britain is set to overtake France to become Europe's second-most populace country for the first time ever, according to the i.
The paper says Nationwide, Lloyds, Virgin Money and Halifax all increased their mortgage rates in response, and quotes the chief investment officer of Legal & General - the country's largest asset manager - saying the company is not currently making long-term investments in the UK debt market because of a "lack of a clearer [economic] narrative".
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