Singapore shows way on skilled visas

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Recall that the Australian Council of Trade Union’s (ACTU) submission to the Jobs & Skills Summit called for the pay floor on temporary skilled migrants to be lifted from its current appallingly low level of $53,900 to $91,000:

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…

This proposal was immediately shot down by the business lobby, who claimed that it would wreck Australia’s ‘skilled’ visa 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.