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Former Treasury Secretary Martin Parkinson has lambasted the aggressive reduction in the migrant intake advocated by the Coalition and One Nation.
He claims that deep migration cuts would leave fewer working-age people in Australia to bear the income tax burden of paying off the government’s debt while putting further pressure on inflation.
“The government is under no pressure to accelerate a return to fiscal sustainability in part because the Opposition is threatening to do things that are even more damaging to the economy”, he said.
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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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