Would slashing migration tank the economy or reset Australia’s living standards? Canada may offer clues
Annual population growth for the North American nation has slowed to just 0.5% – and the economy is ‘adjusting’ Get our breaking news email , free app or daily news podcast Would slashing net overseas migration “trash the economy” or deliver the necessary population “reset” to restore Australia’s stagnant living standards? Labor and an ascendant One Nation have presented starkly different visions…
Canada is currently experiencing a period of reduced migration that has led to a slowdown in population growth, from an annual rate of 3.1% in early 2024 to just 0.5% now. The country has been adjusting its policies to reduce temporary migrants and manage the demographic shifts. According to the CD Howe Institute, Canada's economy could see a decline in employment and GDP growth, but analysts argue that this is a normal adjustment for a population that is aging and shrinking. They believe that Canada's economy is not broken, but rather adapting to the new circumstances.
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