In the 12 months before the EU referendum, migration to the UK remained at historically high levels, with a record 284,000 new settlers from the EU contributing to a net intake of 335,000. While this reflects the buoyancy of the British economy compared to the rest of the continent, it will create a headache for Theresa May in trying to balance implementing a referendum result implicitly predicated on public displeasure with high levels of migration with the demands of an economy increasingly driven by the availability of migrant labour. Crucially, the headline figures conceal evidence that migration from the EU has now peaked. The rate of national insurance number registrations by EU nationals has flattened off after seven years of steady growth, with only an uptick in registrants from Romania and Bulgaria preventing the beginning of a decline. NI registration data has been published covering the period up to the end of September, so the immediate impact of Brexit can now begin to be analysed.