Commonwealth Bank chief executive Matt Comyn is wading into a politically charged debate over Australia’s migration intake.
Appearing before a parliamentary committee on Tuesday, Mr Comyn proposed a migration rate well below Australia’s existing settings.
“Perhaps that number is something in the order of 180,000 per annum,” he told the committee.
“It gives both the Commonwealth and states the ability to plan for critical infrastructure, including housing.”
The figure is broadly in line with Australia’s permanent cap of 185,000 but significantly lower than the current net intake of 300,000.
Mr Comyn did not specify whether he was talking about net migration – which includes all arrivals and departures, including Australian citizens – or the permanent intake.
His intervention comes as the coalition prepares to announce a migration policy.
As global support grows for anti-immigration parties, the opposition is planning to promise a major cut if it wins the next election.
The opposition is considering slashing the nation’s migrant intake by about 100,000 people, with its policy expected to be finalised by Christmas.
Opposition Home Affairs Spokesman Jonno Duniam said that figure sounded like a “sensible number” but wouldn’t be drawn on the details.
The migration plan would be tied to housing availability and the pressure on health and education systems.
“If we can’t figure those things out, how on earth can you set a number?”
Asked about where the opposition could cut Australia’s migration program, Senator Duniam said there had been a problem with international students for some time, but otherwise wouldn’t be drawn.
The federal government doesn’t have a target for net overseas migration, but is forecasting a figure of 260,000 for this financial year.
Budget papers predict it will fall to 225,000 by 2028-29.
In a bid to reduce the nation’s overall migrant intake, the Labor government has introduced caps on the number of foreign students allowed to study at Australian universities.
One Nation leader Pauline Hanson, who has long campaigned for major cutbacks to immigration, said her party had for many years been setting the agenda.
“We need to cut (migration) right back to around 130,000 a year,” she told ABC radio.
“I don’t care about these people coming in from overseas wanting their new life in Australia.
“I care about the people that are here in Australia who can’t get a house.”
Australian Associated Press is the beating heart of Australian news. AAP is Australia’s only independent national newswire and has been delivering accurate, reliable and fast news content to the media industry, government and corporate sector for 85 years. We keep Australia informed.
