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Migration intake target 'should be increased'

The Australian government should increase the migration intake target for 2011/12 to 200,000, MacroPlan Australia has suggested.

Australia's migration intake target for 2011/12 should be increased to 200,000, property research firm MacroPlan Australia has claimed.

 

 

The company said that population growth in the country was at 2.1 per cent in 2008/09, but that it expects this to slow to 1.3 per cent in 2011/12.

 

 

Jason Anderson, senior economist at MacroPlan Australia, said in a report on the topic that net overseas migration could drop to 130,000 in 2011/12.

 

 

"In terms of economic consequences, this sharp slowdown in population growth is likely to contribute to weaker growth in retail sales over the coming year," he added.

 

 

Mr Anderson projected that the population slowdown will reduce growth in retail sales volumes by 0.4 per cent in 2011/12.

 

 

He concluded that this would reduce upward pressure on interest rates.

 

 

Last month, Tim Lawless, director of property research at RP Data, wrote in a piece on smartcompany.com.au that an increasing number of businesses will start to urge the government to increase Australia's migration intake this year.

 

 

Posted by Steve Douglas 

- migration, population

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