Migration Council Chair demands cheap visa flood

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The ACTU’s brilliant submission to the upcoming Jobs & Skills Summit demanded that all temporary skilled migrants be paid at least average weekly full-time earnings:

Increase the Temporary Skilled Migration Income Threshold (TSMIT) – the salary floor for temporary skilled migrants – to Average Full Time Weekly Earnings (approx. $90,916.80 at November 2021) to be indexed annually by wage price index (WPI), with unions and FWO to have a role in monitoring and independent verification of salary levels of temporary migrant workers. Consider options to introduce a salary floor by industry or occupation, where the floor is set at 30% above the median pay rate…

Predictably, this proposal has been quickly shot down by business groups, who claim that such a TSMIT would cancel out 70% of current ‘skilled’ migrants and would “wreck” the immigration system:

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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.