No elephants, only skinflints
Why are the IT employers up in arms? People from parts of the EU are CHEAPER, that's why. You can train British workers to do the jobs, but then, they will probably want a living wage, and that means fewer liquid lunches for these moguls.
Can't train British workers? Hell, we have outsourced most of our industry to other countries anyway, and they can obviously be trained (with the odd hiccough - see various banks' experience with outsourcing). Apprenticeships for school leavers? I think you'll be surprised at what they can do.