In a move that the American government argued had some economic benefits, the government announced on Tuesday that it would introduce a new innovation visa to attract highly talented workers.
As Australia aims to attract qualified workers and best talent while reducing overall emigration, the changes made in the monthly budget, which were made by Treasurer Jim Chalmers, are a result of a comprehensive overhaul of its immigration system.
The government stated that the new visa will take the place of the late-2024 International Talent visa program, which aims to “target extremely talented migrants who will stimulate growth in sectors of federal importance.”
The “golden immigration,” which provides a pathway to permanent residency through purchase in the country, will no longer be available, according to the statement.
As a result of the growing calls to reduce immigration, the centre-left Labor government’s now strong rental market was exacerbated by headline inflation.
The state is now enforcing more stringent requirements for student visa applications and will roll out a ballot system for popular work and holiday visas for applicants from China, Vietnam, and India starting in June 2025.
The steps are expected to help halve online international immigration to 260, 000 arrivals in 2024- 25 from 528, 000 in 2022–23.
