Victoria
Barnaby Joyce dismisses warnings that negative migration would tank economy
One Nation's treasury spokesperson says the party will prioritise public sentiment over economists' warnings of severe economic damage.
One Nation treasury spokesperson Barnaby Joyce has rejected warnings that pursuing a net negative migration policy would severely damage the nation's economic performance.
Speaking during an appearance on the ABC's National Forum, according to reporting by the broadcaster, Mr Joyce argued that his party was prepared to prioritise the public's preferences over the concerns raised by financial experts.
The comments came in response to assertions made during the forum that adopting a net negative migration target would tank the Australian economy. Critics and economists regularly argue that reducing migration below replacement levels shrinks the workforce, reduces consumer demand, and places significant strain on public services and tax revenues.
However, Mr Joyce dismissed those warnings, stating that the political party is prepared to put the will of the people ahead of the opinions of professional economists.
The debate over migration levels remains a highly sensitive issue in federal politics. While major parties have debated caps and restrictions, One Nation has consistently advocated for much tighter controls, including negative net migration, where more people leave the country than arrive.
The exact details of how One Nation would manage the transition to net negative migration, or how it plans to mitigate the projected drop in tax revenues and labour supply, were not detailed during the broadcast. It remains unclear how other minor parties or crossbenchers will respond to Mr Joyce's comments.
Supporters of One Nation's position often point to housing pressures and infrastructure bottlenecks as reasons to curb population growth, arguing that the social benefits of lower migration outweigh the potential economic costs outlined by Treasury officials.
It remains to be seen how voters will respond to One Nation's economic assertions in the lead up to the next federal election.
This report draws on original reporting by Wire report.
Dedicated to a Stronger Victoria.
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