Another Labor immigration blowout

Thursday 19 December 2024

The Albanese government’s first budget, released in October 2022, forecasts net overseas migration of 470,000 over its first two financial years (2022-23 and 2023-24).

Source: October 2022 Federal Budget

They delivered more than double this number, with 981,300 net migrants arriving in the first two financial years.

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.