Business Council shill: ‘Big Australia’ will save economy

Adam Boyton, chief economist of the Business Council of Australia (BCA), has penned a spurious article claiming that mass immigration will prevent the Australian economy from experiencing the economic declines experienced in places like Japan and Europe:

One difference between the US on the one hand and the eurozone and Japan on the other is population growth. The US has a growing population. In Europe it’s barely growing, and in Japan the population peaked some years ago and is now falling…

The US and Canada (and New Zealand and Australia for that matter) haven’t fallen into a zero-interest-rate trap. Yes, interest rates in some of these economies might have been zero, but they have “escaped”.

…Australia’s skilled migration program brings a range of economic benefits. It adds to gross domestic product growth per person and hence helps increase living standards. It aids in the adoption of new technology and makes Australia more productive…

Of course, the BCA supports mass immigration and a ‘Big Australia’ because it means bigger markets, more customers to sell to, and lower wage costs.

But the outcome for ordinary residents has been an unmitigated disaster. Not only has liveability, amenity and housing affordability been crushed, but Australia’s per capita GDP growth has underperformed other developed nations, including Japan and Europe, this decade:

Australian households have also experienced a seven year recession in real per capita household disposable income (HDI), which has fallen by 0.5% over the past seven years:

And Australia’s real per capita HDI growth was the lowest among OECD nations over the five years to 2019:

So how exactly is the Australian economy outperforming? Household incomes are going backwards, and per capita GDP is in recession. It is only Australia’s extreme population growth that is keeping Australia from a ‘technical recession’. And this is coming at the expense of productivity, amenity, housing affordability, and wage growth.

Per Capita outcomes are the primary measurements that Governments, economists and the media should be talking about. But of course they wont, because it is much easier to import migrants and report headline GDP growth than actually earning it the hard way through productivity.

Comments

  1. Yep, hyper immigration will save us from a technical, nominal, non-per-capita recession….combined with rates cute, QE, infrastructure stimulus, and printed money to the people, he’s probably correct…correct with a lot of qualifiers that render the actual achievement fairly useless for everyone but the State, but correct nonetheless…

    • Yep, and it will only cost us that which all policy should be aimed at supporting – our standard of living.

      • Yep, since Australians don’t care about lifestyle and standard of living … 😉

        It’s easy! Just deploy a little more of the same Fascist tactics! Just got to keep the per-capita figures out of the press; find someone else to blame (young people, global forces); and tell them we need more of the same, and they should just work harder for the good of the nation, right?

  2. this is absolute BS. I’m in Wollongong (where I grew up) for a few days and found myself in Wollongong mall earlier today. I was shocked at the number of empty shop-fronts as I walked down the main strip; so shocked that I retraced my steps and counted the number.

    In two blocks along Crown Street Mall (which is foot traffic only and historically the hub of all shopping in the city) between Keira Street and Kembla Street, there were:
    22 Empty Shops and commercial spaces, on two blocks. This includes the previous Myers on the corner (ie empty department store); and a futher 4 businesses which were for sale / closing down.

    Many of the remaining retail stores all had large sales going on; and there seemed to be disproprortionate number of Work Placement service centres.

    The place is stuffed.

    • Mining BoganMEMBER

      Same in Toowoomba. Fire a cannon downtown and not a soul to hit. Empty shops and dead pubs. Big flash new shopping centre with no shoppers. Nobody, absolutely nobody is spending.

      • The Horrible Scott Morrison MP

        That’s because it doesn’t have enough immigration because no one wants live there because no one wants to work in a salvos and get stabbed by a drug addict. Although maybe you could import some Romanians if Brexit happens.

          • Hill Billy 55MEMBER

            And what’s it like for the Carnival of Flowers over the next week? We’re heading up there Sunday.

          • Mining BoganMEMBER

            Three weeks ago it was dry as dry. Took a drive through the old country and was appalled at how dry things are. Went to show the boy the old swimming holes and not one had any water in it. That’s why the place is empty. No money coming in from the farmland means no buying in town.

          • Hill Billy 55MEMBER

            Thanks, similar story south of the border around Inverell from what friends there are saying.

    • That’s why houses are so expensive there! All those emrpty shops nobody can afford to shop at. $900k plus for mediocre homes in the Gong. Good luck with that I say..

  3. Well a ‘Big Australia’ with 5 million more migrants could be a good thing.

    It’s not about the volume but the quality & concentration.

    If those 5 million migrants were skilled, had assets & wealth, had Australian like values, contributed rather than being a net taxation and social burden, weren’t an immediate welfare & Medicare burden, and were NOT concentrated in vast migrant only ghettos in Sydney and Melbourne.
    Then maybe.

    But that’s not what is coming in is it?

    Let’s look at the current 5 million non Australian foreign passport holders now onshore.

    🔹1.9 million third world migrant PR poor in the last decade – 78% unskilled, over 80% a net tax burden, old, sick & diseased, useless, non assimilating.
    No English after a decade, and living a life of third world squalor in a Sydney slum just like the one they left in Guangzhou, Mumbai or Dhaka.

    🔹2.561 million TR/SCV – again the majority third world unskilled useless slum clearance and rural poor on some form of pretext visa. The majority working illegally in visa breach. Again crammed into the vast migrant only enclave slums of Sydney & Melbourne.

    🔹 440,000 illegally working tourist visitors (5% of the 8.8 million TV yearly DHA) and 64,000 Overstayers. Third world poor Chinese, North & South Asia, Indian, Middle Eastern etc useless parasites only here to exploit our broken borders and corrupted visa system – also hiding out in the Sydney and Melbourne migrant slums.

    Total = 5 million poor third world useless in total.

    4.5 million in just two cities of combined 10.3 million.
    44% of Sydney or Melbourne – almost half of the people now a third world non Australian on a foreign passport trafficked in to be our social & economic burden.

    That’s our migrant intake…

    So another 5 million more just like this…
    Is that what Australian’s really want ?

  4. We need an Australian Settlement 2.0 where we actually discuss what we want Australia to be. Big or small, a maker of things or just a ‘massage parlor economy’? Do we want a fair distribution of wealth and good living standards, or do we want it to be a dog eat dog hellhole only semi-decent for a select few?

    Who will step up and be bold enough to suggest what Australia should be, and actually listen to the people?

    • I reckon WA should split away from the rest and we can have an Australia for Australian’s there. House prices are lower and it’s nice and isolated.

      • And we can rebuild relations with the UK, with a sizable UK-born population to help with this plus direct flights to London.

        WA could then be like Norway, and set up a Development Fund financed by resource sector revenue.

  5. And we can rebuild relations with the UK, with a sizable UK-born population to help with this plus direct flights to London.