- Over the course of the 2022-2025 term of parliament, federal government budget papers have consistently underestimated Australia’s net migration intake. Between the 2023 and 2025 financial years, actual net overseas migration is expected to reach 1,305,716.
- In the Albanese government’s first federal budget, handed down in October 2022, the federal government expected net overseas migration to be 705,000 over the period.
- In the Albanese governments second federal budget, it revised its net overseas migration forecast over the period to 975,000.
- In the Albanese government’s third federal budget, it revised its net overseas migration forecast over the period to 1,183,000.
- In the Albanese government’s first federal budget, handed down in October 2022, the federal government expected net overseas migration to be 705,000 over the period.
- An average of forecasts included in federal budget papers over the period estimated net overseas migration to be 954,333, an underestimate of 351,383 people, or more than 100,000 per year.
Figure 1: Average budget migration estimates during the Albanese government
