Sydney Audience: Population Debate and Philip Lowe

sydney audience: Philip Lowe's comments to a Sydney audience come at a heated time in the population debate, with the federal government cutting Australia's permanent migration intake by 10% over the last 12 months, to just 162,417, the lowest level in a decade, according to The Guardian. The reduction, confirmed by the home affairs minister, Peter Dutton, was the result of a departmental crackdown after Dutton and the former prime minister Tony Abbott unsuccessfully advocated for a lower migration cap for Australia. It means Australia has one of the youngest populations among advanced economies, with a higher fertility rate and better prospects for growth. Facebook Twitter Pinterest Australia's population growth remains high in comparison with other advanced economies. He reminded the audience that, in 2002, Australia's population was expected to age quickly, with the median age projected to increase significantly to over 45 by 2040, but after a decade of increased immigration of younger people, the latest estimate was the median age in 2040 would be around 40 years. Photograph UN Lowe said on Wednesday the movement to Australia of large numbers of young people over the past decade had changed Australia's demographic profile in a positive way. (news.financializer.com). As reported in the news.