Population growth is at its lowest level in over 100 years, but the Treasurer is resisting calls to ramp up the permanent migration intake.
The Wage Price Index will run below inflation this financial year, giving Labor a powerful campaign message.
Net overseas migration includes permanent migrants relocating to Australia, as well as others who are in the country for a total of 12 months during a 16-month period, which usually includes tens of thousands of non-permanent workers including students and those on working holidays.“With widespread skills and labour shortages at their worst in 33 years, a comprehensive plan is needed to grow the workforce to meet critical demand,” ACCI said in its pre-budget submission to the government.
Migrants contribute $127,000 more to federal and state budgets than the general population over their lifetimes,Skilled migrants on average make a lifetime contribution of $198,000 to the nation’s finances, compared with an $85,000 cost for the general population; while primary employer-sponsored visa holders contribute up to $557,000.
However, Mr Frydenberg said a spike in people moving to rural and regional Australia during the pandemic meant there could be more opportunities for migrants in the regions than previously.
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