Instead he promised reforms to visa routes in sectors hooked on overseas labour — forcing bosses to train Brits — and tightening “soft touch” employment laws.
Precise details were scant, with the PM pledging a full blueprint to cut numbers “imminently”.
The one-time Remainer also blamed the Conservatives for squandering the Brexit opportunity of reining in migration.
The hastily arranged speech came following a dramatic revision of last year’s net migration figures.
In May the Office for National Statistics (ONS) put the 2022-23 total at 740,000 — but yesterday admitted it had underestimated that by 166,000.
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Meanwhile this year’s net migration figures, from June 2023 to June 2024, stand at 728,000.
In that time 1.2million people arrived in the UK — mainly via legal routes but also in small boats — and 479,000 left.
That 20 per cent fall in annual net migration was largely driven by measures imposed by the last Tory government.
The ONS said that although high by “historic standards”, net migration is “beginning to fall”.
But with numbers the size of a city like Liverpool, yesterday’s figures still sparked calls for action.
Nigel Farage said the levels of migration were “horrendous” and expressed fury at the “impact it’s had on people’s lives”.
Shadow Home Secretary Chris Philp said: “Such high numbers place mounting pressure on housing and public services. We need immediate action.”
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To curb small boat crossings, Home Secretary Yvette Cooper yesterday signed a deal with Iraq for its help in closing down people-smuggling routes.
Britain is giving the country nearly £1million, including £300,000 to train police to bust smuggling gangs, £200,000 to set up a border task force in its Kurdistan region, and £300,000 to tackle human trafficking and drug smuggling.