Memo to business lobby: Mass immigration has wrecked productivity

The Australian Chamber of Commerce and Industry (ACCI) has hit out at the Coalition’s ‘smoke and mirrors’ immigration cuts, centrered around lower graduate and bridging visas, claiming that they risk lowering economic growth and damaging productivity:

“The Federal Government is cutting critical workforces, One Nation’s proposed cuts risk a deep recession, and today’s Coalition commitment would be the biggest cut to migration in Australia’s history. None of these proposals work for Australian business. All of them chase an arbitrary Net Overseas Migration (NOM) number ahead of productivity”.

“The Coalition’s plan would cut annual migration by more than half in its first two years, taking around 125,000 a year out of the Government’s forecast. That would damage the many businesses already facing workforce and skills shortages and detract from economic growth”.