# Business Leaders Warn of Economic Cost of Migration Cuts

- Topic: business
- Source: Video published by ABC News (Australia)
- Published: 2026-08-18
- Original: https://www.youtube.com/watch?v=lE8bvFyAZRg
- Language: en

## At a glance

- Australian business leaders warn that cutting net migration could tighten labour supply in construction and aged‑care sectors.
- Metricon CEO cites a 40 % drop in home sales and fears a further decline if migrant workers are scarce.
- Isa Oberoy’s aged‑care firm employs 45 % of staff on visas, highlighting the sector’s reliance on migrant labour.
- Projected 1.5 million Australians aged 65+ next decade will need 400,000 new aged‑care workers, many likely migrants.

## The story

Australian business leaders are warning that proposed cuts to net overseas migration could hurt the economy by tightening the labour supply for key sectors. Metricon CEO said a 40‑per‑cent decline in home sales last year and a shrinking migrant workforce could further dampen demand for new houses. The construction sector relies heavily on migrant tradespeople, with plastering and rendering crews largely drawn from Asian and Afghan backgrounds, the CEO added. In the aged‑care industry, Isa Oberoy’s company employs 45 % of its 800 staff on visas, and one in six care workers are visa holders, she said. With an estimated 1.5 million Australians over 65 in the next decade, the sector will need 400,000 new workers, many of whom will likely be migrants. Immigration Minister Tony Burke plans to reduce net migration to 245,000 this fiscal year, while Pauline Hanson calls for a cap of 130,000, sparking debate. Business leaders have met with politicians to urge a fact‑based discussion, warning that emotive arguments could overlook systemic factors that also drive housing and infrastructure pressures.

> Summary by Daily Read Bytes. Read the original at https://www.youtube.com/watch?v=lE8bvFyAZRg