High immigration hurts state budgets

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The Age has chosen one of the dumbest angles to go with regarding the Albanese government’s ‘smoke and mirrors’ migration reforms: that they would harm Victoria’s budget:

The Age headline

“A federal push to slash the annual migration intake could have significant ramifications for the Victorian economy, which has for more than a decade been powered by booming population growth fuelled by overseas migration”, the article reads.

“Victoria’s precarious budget forecasts – built on the assumption that the state’s population would swell by almost half-a-million people over the next four years – could be derailed if the plan goes ahead”.

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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.