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Australia must rapidly implement a strategy to navigate the population challenges post COVID-19 and recognise Australia’s ongoing demographic challenges.
The pandemic has delivered a significant shock to Australia’s labour force that will take years to recover from. At the same time, older workers are continuing to exit the workforce in larger numbers. This will place pressure on expenditure in the years ahead for both aged pensions and health care.
The Australian economy must continue to grow and improve productivity to ensure that governments have sufficient fiscal capacity to deliver the standard of public services the community expects.
Attracting skilled and productive young workers from overseas will also be crucial in offsetting the impact of Australia’s aging population.
Australia’s immigration policies should target working aged skilled migrant and business migration to assist in mitigating the rate of decline in the share of our working aged population compared to those aged over 65.
Remove the cap of 160,000 migrants per annum.
Improve the timeliness and reduce the cost of the visa application process for skilled trades in construction.
Remove the unnecessary barriers that temporary visa holders face in applying to transition to a permanent visa.
Establish appropriate visa arrangements for students and skilled foreign workers to hasten the restoration of overseas migration.