High migration is putting pressure on home prices and rents, and lifting the demand for more infrastructure, and diluting the GDP per capital (share of wealth generated in the country across an ever-increasing population, 84% of which growth came from migration. So this is a big political hot potato.
Many are calling for a cut in migration to fall to a level consistent with the current capacity to build new homes, though of course the corporate and university sectors want ever more people in the country to keep wages low, and boost the number of households to sell things to, while the tax take rises, which is why The Federal Treasury want more people too.
There has been some lip service to attempt to streamline and better target Australia’s immigration system, though mainly focussing on a reduction in student numbers. But now, Home Affairs Minister Clare O’Neil says regional communities should benefit more from overseas arrivals, including through changes to cumbersome occupation lists and settlement rules.
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