On Tuesday, Opposition Leader Angus Taylor unveiled the Coalition’s plan to slash the rate of net overseas migration to 100,000 for its first two years in government, before it was later allowed to rise to 160,000 per year.
Taking these figures purely at face value, it is a far more sustainable intake than the one that has been proposed by Labor and could offer significant scope to begin to very gradually rein in the housing deficit, which even the federal government’s National Housing Supply and Affordability has concluded is sizable.
Under the broader plan, the stock of temporary visa holders (excluding Kiwis, transit visas and visitors) is set to be reduced by a little under 650,000 over four years, delivering what the Coalition claims will be a “budget-neutral” outcome.
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