Melbourne’s ponzi economy to get $25b steroid injection

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Last week, Deputy Lord Mayor of Melbourne and principal fellow at Melbourne University, Nick Reece, added his voice to the business lobby in calling for a “massive wave of new immigrants to help get the city back on track”:

Our city now needs a massive wave of new immigrants to help get the city back on track.

The population of Melbourne is projected to be 300,000 less by 2025 compared to where it would have been without the pandemic. While Australia will be almost one million people down.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.