The Coalition's migration policy completes the set of competing proposals now on offer from the government, the opposition and One Nation, which has climbed in the polls largely on its promise to drive immigration to its lowest levels in Australia's history.
Migration-driven population growth in Australia since 2019 has been more than double that of the United Kingdom and three times that of Germany, according to the figures behind the debate.
One Nation has vowed to achieve net negative migration for the first three years before settling at a long-term ceiling of below 130,000. The party says its plan would cut net migration by 750,000 in three years, providing "breathing space" for housing construction to catch up. Spread evenly, that would amount to a net migration rate of negative 25,000 based on Treasury forecasts.
The Coalition proposes to more than halve net migration for two years to 100,000, rising to 130,000 in the third year and 160,000 in the fourth. Thereafter, net migration would be tied to the pace of housing completions.
The federal government, through Home Affairs Minister Tony Burke, has announced measures to achieve a net migration rate of 225,000 a year by 2028. That figure was already forecast in the federal budget, though actual migration has repeatedly come in higher than forecast. The government has now acknowledged net overseas migration as a hard target it is committed to reaching.
Every attempt to lower migration removes workers from some sector, risks hitting already slow economic growth, and potentially deepens workforce shortages in industries such as health and aged care.
One Nation's plan would restrict international student visa places to just over 100,000 a year, compared with about 290,000 granted last financial year. Visas for families of international students and skilled migrants would be ended almost entirely, with an estimated 46,000 family and dependent visas granted last year refused except for roughly 6,500 partners and children of postgraduate researchers. The party has also explicitly linked its policy to ending multiculturalism.