Australia’s gross domestic product grew only 0.2% according to the latest national accounts figures released yesterday, and according to Universities Australia and The Group of Eight the slowing of the economy should serve as a wakeup call to the Australian Government on the contribution of international students to the economy.
Treasurer Jim Chalmers may have been blaming the Reserve Bank and interest rates yesterday, but Universities Australia was quick to point out the impact of Ministerial Direction 107 and slow visa processing on the economic slowdown, with student visa grants down 27 per cent in higher education in the June quarter.
“Today’s national accounts is yet another wake-up call for the Government to revoke Ministerial Direction 107 to support our universities and the economy,” said Universities Australia Chief Executive Officer, Luke Sheehy.
UA took the opportunity to continue its call for MD107 to be revoked immediately rather than the planned 1 January 2025, and only if legislation passes parliament to introduce enrolment limits on international students.
The Group of Eight said that “international students are propping up the economy, with expenditure by international students above the June quarter average”.
“Australia’s economy is growing at its slowest pace since 1991. Shutting the door on international students will only make this worse. Time to rethink the policy to cap international student arrivals.”
While celebrating Victoria’s growing export figures yesterday, the Premier of Victoria, Jacinta Allan, also joined the call for the Government to reconsider imposing caps on international students in a media release:
“The Labor Government’s priority is to maintain the state’s global reputation as an open and welcoming destination, while supporting international students to join the state’s pool of highly skilled talent.
It’s why the Commonwealth Government must reconsider its cap on international students, which risks damaging Australia’s international education standing and economy.”
