Economist: Drought to drive population from regions to cities

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Who would have thought: the drought is driving people from the regions to the cities, the opposite of the federal government’s ‘migrants to the bush’ policy. From The SMH:

Leading regional economist, Terry Rawnsley, has warned fears about water could discourage Sydney residents from moving to regional towns at the same time as the economic effects of the drought force workers to depart country areas in search of opportunities…

“You’ve had political focus on getting more people into the regions but if people are thinking about moving to a regional town and they read the place is about to run out of water that might put questions in their mind”…

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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.