Australia faces migration debate amid calls for productivity-boosting reforms

Population growth in Australia reached around 300,000 net overseas migrants, a level higher than in the years between the Global Financial Crisis and the COVID pandemic. This surge has intensified housing demand and modestly lifted overall GDP, but per-capita income and disposable wages have barely risen. Political parties are vying for the migration vote: One Nation proposes a three-year negative net migration followed by a 130,000 cap, the Coalition ties its target to new housing supply at 170,000, and Labor forecasts 245,000 this financial year and 225,000 in 2027/28.

All three stress the importance of skilled migrants, especially for agriculture and universities, while Home Affairs Minister Tony Burke said the figures align with budget migration forecasts. The article argues that Australia’s productivity lag stems from weak business investment and suggests looking to Canada’s recent tax incentives and streamlined project approvals as a possible model.