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'Skilled permanent residents contribute more tax revenue than they take away:' New study

BIS Oxford Economics research says a drop in migration due to COVID-19 will cause a loss of 1.1 million people to Australia's population over the next decade. Source: Getty Images

BIS Oxford research shows that the Australian economy could reduce by about $80 billion by 2024 as the net migration has fallen to the lowest level since World War II.

Economists urge the Australian government to restore migration to the pre-Covid rates as soon as it's safe to do so.

BIS Oxford research showed skilled migration residents have an employee participation rate of 92 per cent compared with 66 per cent for the overall Australian working-age population.

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