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The Institute of Public Affairs released research last week estimating that 1.15 million net migrants have entered Australia since the last federal election in May 2022.
This is already 62% more than the previous record, set during the first term of the Rudd-Gillard government when net overseas migration was just under 711,000.
Business Council of Australia chief executive Bran Black recently attacked Peter Dutton’s proposal to cut permanent and net overseas migration, arguing that it will exacerbate skills shortages.
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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.
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