Mathias Cormann, the former Australian finance minister and current head of the Organisation for Economic Co‑operation and Development, has warned that the country’s major political parties should avoid adopting populist measures such as migration caps to tackle voters’ concerns over the cost of living.
In a statement aimed at the political mainstream, Cormann cited research showing that migrants help boost employment levels across Australia. He argued that restricting immigration would do little to ease the economic pressures faced by households.
Instead, the former finance minister urged politicians to focus on delivering tangible improvements in housing, real wage growth and lower energy costs. He said that boosting productivity was the key to achieving these outcomes.
Cormann, who served as finance minister for the longest period in Australian history, warned that populist policies could undermine the country’s economic resilience and fail to address the root causes of the cost‑of‑living crisis.
His remarks come amid growing public debate over how best to reduce living costs, with many voters demanding immediate relief from high housing prices and energy bills.
<small>Source: The Guardian — read the original story there.</small>