Former RBA official: Australia must cut immigration

Andrew Stone is a veteran economist that spent five years at the Australian Treasury and more than a decade at the Reserve Bank of Australia before working for nearly five years as Chief Economist and senior policy advisor to the Tony Abbott.

In his new book, entitled Restoring Hope: Practical Policies to Revitalize the Australian Economy, Stone calls for a significant reduction in immigration and international student numbers:

The below videos summarise why immigration needs to be cut:

Basically, high immigration is wrecking living standards by inflating property prices, suppressing wages, and eroding urban amenity. High immigration is also useless in preventing population ageing.

It’s good to see more economists finally catch on.

Leith van Onselen

Leith van Onselen is Chief Economist at the MB Fund and MB Super. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.

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Comments

    • Absolutely. It’s quite clear that immigrants are never the problem, it’s a failure of governments to plan properly for immigration and saying immigration is a problem is just scapegoating black people. Anyone who says otherwise only does so from their deeply held, possibly subconscious racist attitudes.

          • Careful now, I got howled down for commenting on an SBS video on Facebook that was saying all the hoo-har over Sudanese gangsters wasn’t just racism, but that sometimes immigrants are not perfect. haha.

        • John Howards Bowling Coach

          It is a total failure of planning that the vast majority of arriving migrants in the past 2 decades are from cultures completely different from the western democracy of Australia who we then encourage to retain their own culture in it’s entirety leading to a complete failure of assimilation. If Australia’s Western culture is not superior to their’s why do they want to come here? They are voting with their feet, we need to find more methods of ensuring they drop their culture when they cross the border and adopt our own or we will be socially engineered into a mass of play dough, easily formed into whatever shape the arriving masses wish. If the government thinks they are in control of this they are kidding themselves, they have not real understanding of the direction Australia is going in, they can only see the next opinion poll.

  1. It’s a pity he didn’t catch on while actually in a position to influence policy.
    Or is it that old chestnut:
    It Is Difficult to Get a Man to Understand Something When His Salary Depends Upon His Not Understanding It

    • Yes, that’s the one. You’re catching on quickly.

      One of the most high profile examples: Alan Greedspan. Vocal advocate of the gold standard, then becomes Fed Chairman and becomes JM Keynes’ left bollock. Leaves the job in disgrace having blown two epic bubbles (Dotcom and Subprime) and then becomes a gold bug all over again, calling out the very policies that he oversaw while Chairman!

    • In fairness, I think Tonz and Stone did advocate for lower immigration while in government. They probably didn’t push the issue hard enough though. And let’s be honest – they weren’t in the top jobs for very long.

  2. The Australian attributed the following comment to the author.

    ..There should be no such thing as a job that young Australian jobseekers are allowed to turn their noses up at..”

    There should be no such thing as an industry sector (like agriculture) that is not required to compete for labour with the rest of industry.

    There is a reason that it is difficult to find agricultural workers. The work is hard, dirty and usually in the middle of nowhere.

    If a normal business finds it hard to attract labour it offers more pay so that workers leave their current jobs, travel and accept job offers.

    What makes agriculture so special that they have to be given access to a coerced or desperate labour force (backpackers, immigrants) just so they don’t have to offer wages that are competitive with other potential employers.

    Perhaps if agricultural employers offered better wages and conditions they could persuade members of the ever expanding and often perfectly fit grey nomad army of 65+ year olds to travel the country picking fruit. They might even find that the long term unemployed would find the prospect of decent pay and a life in rural Australia attractive.

    If we have to pay millions to induce workers to accept the tough gig that is running corporate Australia we could easily offer people substantially higher hourly rates to pick fruit all day long.

    • I do not mind foreingers coming here to pick fruit – as long as they are never given AUS citizenship.

      Would it not be far better to ban foreingers from working as nurses, truck drivers, NBN workers? Aussies have always done those jobs and vibrants are putting our lives at risk by working in those jobs.