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 The post…
The Australian Chamber of Commerce and Industry (ACCI) has criticized the Coalition's immigration plans, alleging that they will undermine economic growth and productivity. The ACCI argues that the cuts, particularly to lower graduate and bridging visas, risk causing a deep recession and would be the most significant reduction in migration in Australia's history.
The ACCI contends that these proposals prioritize an arbitrary Net Overseas Migration (NOM) target over genuine productivity gains. According to the ACCI, the Coalition's plan would slash annual migration by over half in the first two years, removing approximately 125,000 migrants annually from the Government's projected figures.
The ACCI emphasizes that such drastic cuts would exacerbate workforce and skills shortages in businesses already grappling with these issues, thereby impeding economic growth.
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