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Australia must increase migration: report

Xinhua, March 5, 2015 Adjust font size:

Australia needs at least 250,000 new migrants each year to raise living standards and contribute 1. 6 trillion Australian dollars to the economy, according to analysis released on Thursday.

The government's head of auditing, Tony Shepherd, said the country's migration intake should be kept at current levels and then rise in the years ahead.

The key issue is Australia's aging population, which will lead to taxation revenue declines.

The Migration Council of Australia study said a steady climb in the migration intake will address long-term pressures on Australia as it heads towards a population of about 40 million by 2055. The current population is just over 23 million.

News Corporation reported the study highlights the risk of lower growth and larger budget deficits if it is decided to reduce migration to the country. Endi