Students, backpackers migration hit; BHP’s carbon backdown; shoplifting surges
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Welcome to Fear and Greed, business news you can use. Today, the Albanese government unveils its new migration policy, clamping down on students and backpackers. BHP concedes its carbon emissions will stay higher for longer because electric trucks aren't good enough. And Japan hits a milestone, 100,000 people over the age of 100 years. Plus, the IMF tells Australian governments to rein in spending and shoplifting surges up and down the East Coast. It is Friday the 18th of September 2026. I'm Michael Thompson and good morning, Sean Aylmer. Good morning, Michael.
What new migration policy is the Albanese government introducing for students and backpackers?
Sean, the main story this morning is a pretty meaty one. The government wants to impose restrictions on working holiday visas by introducing a ballot system for anyone wanting to stay longer than a year and making all applicants wait three months for approvals. With immigration, you'd have to say, the hottest political issue at the moment, mostly because it's where One Nation actually rates best among voters. Labor yesterday announced... Really, it's quite a responsive immigration policy, responding to some of those criticisms, favouring certain skills and almost biasing away from students and backpackers.
Yeah, I think that's right. Immigration Minister Tony Burke wants to prioritise skilled visa applications in the fields of healthcare, construction, education, law, defence, resources, agriculture, aquaculture. and fishing. Burke is also making it harder for students to apply for another visa when their original one expires, including removing work rights for those refused an asylum application and then granted a bridging visa while they appeal. They're clamping down on the ability of those on student visas to bring in family members. The government will also introduce a no further stay condition on all visitor visas to ensure they are used only by genuine visitors. and not as a pathway to extending a stay in Australia.
There'll also be tougher compliance measures to force out the estimated 80,000 visa overstays who are in the country illegally. Let's talk about
the politics of this because... I mean, this is such a hot political issue right now. There are currently 3 million people in Australia on temporary visas, which is a million more than when Labor came to office in 2022. Figures released yesterday show that net overseas migration has fallen from 301,000 to 292,000 in the year to the end of March. That is the lowest since June 2022. And it actually puts it on track to reach the budget target of 295,000. Burke's measure, the measures that he announced yesterday, aim to reduce that number to 245,000 this financial year and to 225,000 by 2028. A lot of numbers there, but they were the targets in the most recent federal budget. But one nation wants a net overseas migration figure of 130,000.
And the coalition says the number should be linked to housing availability, which experts say would be 170,000 at most. All right. So there's a lot of very... conflicting views on this. Polls say that One Nation's strongest selling point is its migration policy. So you can see why this is really setting the tone for the conversation.
Yeah. I mean, you alluded to it at the beginning when we were talking about this. Burke said that One Nation didn't sway their policy, but obviously it swayed their policy. They're fighting hard on this issue. It's a much harder... Issue for the coalition than Labor though, and the coalition hasn't actually released its policy. Opposition leader Angus Taylor yesterday said it would be the coalition will be guided by the principle that the numbers are too high and standards are too low, but we don't really know what that means. Labor is flagging the changes as a way of boosting housing supply, even though in the same breath, Tony Burke says, you know, migration doesn't cause housing shortages.
How are political parties and voters reacting to the tightened visa rules?
Ironically, the geographies that the new policies could hit hardest from all parties. is basically the conservative heartland, the one nation heartland, rural and regional Australia. Same for the National Party.
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