‘We need skilled migrants’: Westpac CEO Anthony Miller defends migration amid Federal push to reduce rate

Westpac chief executive Anthony Miller has warned Australia’s future prosperity relies on skilled migration continuing but has acknowledged community concerns over “unfettered” and “unrestrained” arrivals.

With the Albanese government poised to unveil a long-awaited overhaul of immigration settings, and as the Coalition debates its own policy position, the Westpac boss has declared: “we need skilled migrants”.

Ahead of a visit to Perth this week, Mr Miller has told The Nightly he appreciates voter unease with current migration levels and policies but is urging policy makers to take a “thoughtful” approach.

“I understand the concern around unfettered, unrestrained migration, and the pressure that might put on services, availability of property,” the banking boss said in an interview ahead of his visit to WA.

“I understand that debate, and we need to make sure we get that right. I would advocate that we need to be very thoughtful about making sure we don’t impact or detract from the fact that skilled migration is a really important part of Australia’s past and its future.

“This country has succeeded because it’s been able to attract capital and talent, and we need to continue on that path.

“And so, the debate around migration, in my mind, I understand communities’ desire to have that debate, and there’s some frustrations, but we should make sure we don’t fall into the trap of lumping skilled migration into that same debate.”

Over recent months senior Labor figures have become increasingly attuned to growing voter angst over migration levels which some MPs fear is boosting support for Pauline Hanson’s One Nation party.

This week Labor is expected to unveil further details on how it will reduce the net overseas migration rate from the current level of about 300,000 people a year, to the Budget targets of 245,000 this financial year and 225,000 the following year.

“We need skilled migrants. We’re not going to be able to build the country we want, build the houses we want in this country, unless we have more skilled workers, and skilled migration has a role to play in that,” Mr Miller adds.

The Westpac boss has singled out Western Australia as doing “exceptionally well attracting talent and people” to help build “fantastic assets” in the northwest as well as expanding its defence bases.

“You know that’s part of the success of Western Australia. So, I think everyone here would absolutely I think appreciate the importance of skilled migration and what it can do when done well,” he said.

Mr Miller says his visit to WA this week is really important given “we think there’s a lot of really significant growth opportunities” in the state, particularly given its proximity to Asia and positive agricultural sector.