December’s Mid-Year Economic and Fiscal Update (MYEFO) upgraded Australia’s net overseas migration projection for 2024-25 from 260,000 to 340,000 (see below table). Every budget and MYEFO released by Labor since it was elected has badly underestimated Australia’s net overseas migration. Specifically: 2022-23: Began at 235,000, rose to 400,000, ended up being 535,500. 2023-24: Began at 215,000,
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