By Chris HannonNews24.com, December 22, 2018, 4:03:20PMCASHING OUT ON A SURGE IN MONEYTECHNOLOGY, AUSTRALIA’S government has announced plans to boost the number of skilled migrant workers by an extra 1.6 million over the next two years, as the economy continues to grow.
The Federal Government will spend $6 billion to hire 5,000 additional skilled migrant labourers over the course of four years.
“In the past, we’ve seen the need to recruit more skilled workers, but we’ve also seen an underutilised supply of skilled workers,” Treasurer Scott Morrison said in a statement on Thursday.
“We need to do more to meet that demand, and the Government is taking action to make sure we have the right people to fill that gap.”
“The Government’s decision to invest in skilled migrants and to expand our workforce in the construction sector will help us meet our immigration obligations.”
The Labor Party has flagged the plan as a “bail-in” for its policy of removing the 457 visas, which allow foreign workers to live and work in Australia.
The 457 visas are designed to help people from low-income backgrounds get entry to the workforce.
The Labor Government has been criticised for allowing 457 visas to be renewed and for allowing employers to claim the visas as their own.
The announcement by the government comes amid a global slowdown in manufacturing as global demand for labour is waning.
The Reserve Bank of Australia has already warned that manufacturing activity has slowed significantly since the election, while the US Federal Reserve is warning that a prolonged slump in the global economy could have an impact on global demand.
The Government has committed to spending $5 billion on the construction industry over the coming four years, with $1.2 billion of that earmarked for the construction and renovation sector.
The construction industry employs about 1.4 million people and employs about $10 billion a year.
The new money will be earmarked to support new construction projects, including the construction of new houses, schools, hospitals and recreational facilities, and for infrastructure projects such as roads, schools and roads.
“The construction sector has a lot of challenges, and there’s always a risk that the downturn could impact some of the major infrastructure projects we’re supporting,” the Federal Government’s Assistant Treasurer, Mick Narev, said in an interview on ABC Radio National.
“But I think the big thing for us is that we’re building for the future, not just for the current.”
So we’re investing in the right things, and we’re working with the industry to ensure we get the best bang for the buck, so we’re delivering on our promise.
“The Federal government also plans to invest $200 million to boost education in the sector, including $500 million in the 2017-18 school year.”
Education is one of the best ways we can deliver skills for Australia’s future workforce,” Ms Narev said.
The construction and construction industry has been a major driver of job creation in Australia for decades.
The Federal Government has allocated more than $1 billion to the industry in the past three years.
The Opposition has accused the Government of playing politics with Australia’s prosperity.”
This Government is putting its own political gain ahead of Australian jobs, putting Australia’s economy ahead of the country’s, making Australia look weak and not strong,” shadow Treasurer Chris Bowen said.