alternatehistory.com

The point of divergence is in early 2004 (when Tony Blair was still in power).

In this alternate timeline, U.S. citizens have the same rights as EU citizens to live and work in the United Kingdom, and a new visa is created in the U.S. for British citizens wishing to live and/or work in the U.S. as a reciprocal agreement.

What, if any, would be the major consequences and ramifications of this decision if it had taken place?

I know that in London there are many American expats, but this is probably because of the City of London (financial centre) or U.S. employers who have a base in London and have done an intra-company transfer sponsoring them for the visa.

This is my first go at anything politics-related on here.

I will be interested to see what you think would or could have happened next.
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