Targets set for 2024-25 Permanent Migration Program- FEDERAL BUDGET 2024/2025
In a significant announcement during the 2024 Federal Budget, the Australian government unveiled ambitious plans for the permanent Migration Program. The program’s planning level for the upcoming fiscal year will be set at 185,000 places, with approximately 70%—or 132,200 places—allocated to the Skill stream. This strategic emphasis on skilled migration underscores the government’s commitment to addressing labor shortages and driving economic growth through targeted immigration.
Moreover, the government outlined plans to extend the planning horizon for the permanent Migration Program from one year to four years, starting from 2025–26. This extended outlook aims to provide greater certainty and planning capacity for both migrants and stakeholders within Australia’s migration system.
As part of broader migration strategy initiatives, government actions are projected to reduce net overseas migration by an estimated 110,000 people over the forward estimates, commencing from July 1, 2024. This reduction will see net overseas
migration nearly halve—from 528,000 in 2022–23 to 260,000 in 2024–25—reflecting a strategic shift in migration policy to better align with economic and demographic objectives.
These developments signal a comprehensive effort to streamline Australia’s migration system, ensuring that it remains responsive to evolving economic needs while fostering sustainable population growth and integration.
Read here for more updates on the 2024-25 Budget!
[…] 2024–25 Permanent Migration Program will be set at 185,000 places, with approximately 70% allocated to the Skill stream. This program […]