Would slashing migration tank the economy or reset Australia’s living standards? Canada may offer clues
Summary
Australia is debating whether cutting the number of people moving into the country would hurt the economy or help improve living standards. Canada, which is similar to Australia in size and economy, recently reduced its immigration and is adjusting without breaking its economy.Key Facts
- One Nation party in Australia wants to cut temporary migrants by over 750,000 in three years, lowering net migration below zero before capping it at 130,000 annually.
- Labor party aims for a higher net migration target of 225,000 per year, compared to the current estimate of 292,000.
- Australia’s Home Affairs Minister Tony Burke says cutting migration heavily would damage the economy and services.
- One Nation leader Pauline Hanson claims reducing migration will improve living standards, citing Canada’s experience.
- Canada has reduced temporary migrants from 7.6% to 5% of its population by lowering international student arrivals and limiting stay extensions.
- Canada’s population growth slowed from 3.1% in early 2024 to 0.5% currently.
- A Canadian thinktank report warns of slower job growth and GDP growth around 0.5% in 2026 but states the economy is adapting, not failing.
- Canadian experts say demographic changes affect how economic numbers should be understood, with the economy showing resilience during immigration changes.
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