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 of what a migration program in the national interest looks like.
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📰 Guardian World ↗
⚡ Effects Interpreter
🌍World Economy
- ▶Distant markets sometimes move on rumour before the facts even settle.
- ▶Foreign direct investment decisions can hinge on how this plays out.
🏙️Local Economy
- ▶Everyday essentials may nudge in price as suppliers adjust.
- ▶Your weekly shop might get a touch dearer, or cheaper, down the line.
🏦Rates & Banks
- ▶A modest drift in borrowing costs is more plausible than a sharp jump.
- ▶A change in the cost of money, if it comes, will likely arrive subtly.
❤️Health
- ▶Unsettling news can weigh on sleep and mood, so peace of mind matters.
- ▶Taking a break from the headlines can do more good than scrolling on.
💷Wealth
- ▶Savers with a clear plan tend to feel less rattled by a story like this.
- ▶Time in the market usually matters more than timing the market around a story like this.
🏠Housing
- ▶Bricks and mortar tend to hold steady while other markets swing about.
- ▶Mortgage shoppers might find deals shift only slightly in the short term.