What the Coalition’s costings won’t tell you: slashing net migration will smash a $24bn hole in the budget

The Coalition’s plan to slash net overseas migration by 100,000 each year will cause a $24 billion decline in the budget over four years, far outweighing their stated goal of improving the deficit. This fiscal strategy has severe long-term consequences, including nearly doubling the national deficit by 2028-29 and nearly doubling the debt by 2035-36. Migrants are often young, skilled, and motivated contributors to the economy, but this cut will harm the nation’s ability to handle a growing population, potentially exacerbating housing and economic challenges while increasing national debt.