A shift to a simpler and more streamlined migration system with better pathways to permanency is a crucial step to securing Australia’s future prosperity, Business Council chief executive Jennifer Westacott said.

“We welcome the government’s agreement today that a working migration system is key to securing our economic future, building productivity and locking in higher living standards for Australians.

“A fit for purpose migration system that cuts back on red tape puts Australia in the box seat to build new industries, tackle the transition and forge a path to being a frontier economy.

“Adjustments to TSMIT are workable but do represent a significant increase. This change will need to be delivered alongside action to remove onerous and ineffective red tape while still ensuring Australian workers don’t miss out by targeting migrants with the scarce skills in short supply around the world.

“TSMIT changes will need to be delivered with a process for essential workers to avoid unintended consequences in areas of real shortage but with incomes below the threshold.

“Crucially, the government has recognised that Australia will be better served by a system that gives skilled migrants an opportunity to stay here, contribute and help us all build an even stronger and more dynamic Australian economy. 

“Migration has been integral to Australia’s economic and social success but over time our system has become a patchwork of rules that doesn’t attract the best and brightest or discourages migrants from staying, today’s announcement signals a reset.

“By building pathways to permanency for migrants the government is helping make us a more attractive destination for the highly skilled workers we need to build new industries and it’s creating a system that will serve our community better in the long term.

“Jobs and Skills Australia will give the nation a renewed focus on identifying the right workers and business is ready to work with the agency to get the settings right.

“We’re building a strong pipeline of talent here in Australia but it can’t deliver highly skilled workers over night. Getting the right workers, with the right skills in the right places is what gets key projects off the ground to drive investment and jobs for Australians.”