New research by the Ministry of Finance and the Ministry of the Interior shows that skilled migration is conducive to increasing national revenue. (Web Photo)
A new study released today by the Ministry of Finance and the Home Office found that skilled immigrants have increased Australia`s wealth by not relying on welfare or taking jobs from locals, the Australian Federation reported.
That dispels concerns about the need to cut immigration, according to a two-sector joint study that shows that skilled migration is in fact helping to boost national revenue.
The study cited (IMF) forecasts from the International Monetary Fund. Australia`s immigration plan will boost GDP growth by as much as 1 percent a year between 2020 and 2050, as it limits the impact of an ageing population on the economy, according to data.
"Immigration has brought economic dividends to Australia because the current policy environment is conducive to immigrants of working age, skilled and able to contribute to the economy," the report found.
In addition, immigrants may contribute more taxes than they receive from government benefits.
New research by the Ministry of Finance and the Ministry of the Interior shows that skilled migration is conducive to increasing national revenue. (Web Photo)
But the study also acknowledged that rapid population growth could exacerbate existing infrastructure and housing pressures and create traffic congestion. "in order to fully enjoy the benefits of immigration and population growth, Australia must continue to explore and address these issues."
"to be fair, infrastructure and housing supply have not kept pace with population growth," Treasury Secretary Mok Suisse (Scott Morrison) said in an interview with ABC Radio. Therefore, in this year`s budget, we will continue to invest heavily in infrastructure construction. "
Senior government officials are debating whether to cut immigration levels and cut the 190000-year quota ceiling. The study by the Treasury and the Interior came out at this moment.
Unless the current immigration rate is maintained, Australia`s economic growth will slow significantly, the report warned. "in the absence of immigration, the absolute number of Australian workers will be reduced by 2020."
