Never trust Treasury on immigration

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Australian Treasury Secretary Steven Kennedy claims that Australia’s net overseas migration (NOM) is on track to fall back to budgeted levels without the proposed 40% cap on international student enrolments:

According to The AFR:

Treasury Secretary Stephen Kennedy told a Senate committee in June, in comments that went unreported at the time, that his department’s analysis showed those targets were on track to be met based on existing migration reforms, that do not include the proposed caps…

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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.