Veteran Aussie entrepreneur calls for drastic cut to immigration

• By Avi Yemini

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Entrepreneur Dick Smith underscores the 'prime reason' for Australia's high house prices, citing population growth and pushing for immigration reduction to 75,000 per year.

In a spirited debate on Sky News Australia, Smith clashed with Emilie Dye from the Centre for Independent Studies (CIS), who defended immigrants' positive contribution to the economy and dismissed them as scapegoats for housing issues.

Australia's record intake of half a million migrants in 2022-23 has led to a population exceeding 27 million, sparking concerns from Smith about reaching 100 million by the end of the century.

"We can [continue on that trajectory] but it won't be good for normal people," Smith warned. He advocated for an immigration figure of 75,000 per year, aligning with the country's historical average.

Dye countered, emphasising immigrants' 'entrepreneurial spirit,' job creation, and overall contribution to society, rejecting the idea that they are solely responsible for housing problems.

The ongoing debate includes discussions on GDP, Australia's economic structure, and housing policy failures. Smith contends that the current housing crisis is linked to the significant population increase.

Despite differing opinions, both sides agree on the urgency of addressing the housing affordability crisis, with experts proposing various solutions, including temporary cuts to international student numbers.