A recent report published by Fairfax Media has revealed that immigrants contribute significantly towards the growth of the Australian economy. The report has also revealed that bringing down the levels of immigration would result in the loss of billions of dollars in the national budget and reduction in job growth in Australia.
Highlights of the report on immigrants to Australia
Immigrants help to increase the overall gross domestic product of the country, besides increasing the per capita GDP, according to the report. The report has also revealed that the immigrants contribute more to the Australian economy in tax revenue than the amount spent on them through government services.
The report points out that 70% of migrants to Australia are skilled and of working age. So the country no longer faces the crisis of an aging population. Higher levels of migration also mean less spending per person on social services like healthcare and education, explains the report.
The report has further observed that neither wages nor the unemployment rate was affected by migration. Another finding of the report is that Australia could weather the 2008 financial crisis because of the contributions of the migrants in sustaining and fostering strong economic growth for a long term.
Immigration is a topic of hot debate in Australia and he far-right contingent of the Liberal Party stands for bringing down the immigration levels significantly. But the new report proves that immigration’s impact on the economy in positive and is necessary for the growth of the Australian economy.
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