THE issues that political parties want us to consider before the next Federal Election are those pertaining to superannuation and immigration.
I detailed an opinion on superannuation last week so now I will offer a view on immigration.
From my perspective I see the underlying issue to both subjects as being determined by financial circumstances and, in particular, to where the Australian economy is heading in the mid-term future.
While the direction for immigration numbers is in the downward direction from all of the political contenders, their targeted numbers are different.
Because these numbers seem to be changing weekly by all of the participants, I can only detail the most recent numbers. These show that the Government wants a reduction to 245,000 and the opposition is looking at 170,000. Seems like a previous inflow figure of close to 600,000 immigrants is seen by all levels of our community as far too high.
The argument in favour of heavily reducing the intake relates mainly to the lack of housing and associated services that are the number one irritation for the great bulk of voters, plus government seems to be unable to increase the volume of home construction, plus does nothing to deliver the much-needed demand for low-income people to enter into home ownership.
The expected push-back to this view comes from businesses who are desperate to gain employees for many of the basic tasks they require.
Those with that view are suggesting what the Government needs to do is to plan better for the future, make more land available, bring in more builders as immigrants, build more roads, bridges, open spaces and forever push upwards for new home units near existing railway stations.
The only possible way that view could be successful is if the government borrows more money, prints more money, puts further pressure on our fragile financial position, but I am of the view that this will not reduce the price or availability of housing for any sector of our community.
So, more debt would result, more builders would go to the wall, plus the additional borrowing would increase the interest rates, which many say are already too high and obviously drive our economy closer to the precipice.
Even American Presidents should understand that “the need is to keep it simple – stupid.”
By John BLACKBOURN
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