July 25, 2017

Freelancer CEO Matt Barrie says ‘panic’ in the Turnbull government over house prices is behind the 457 visa overhaul

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By Freelancer.com (Freelancer.com) [CC BY-SA 4.0], via Wikimedia Commons

Freelancer CEO Matt Barrie. Image: Supplied. One of the country’s most successful tech entrepreneurs has said the 457 temporary work visa was axed by a government in panic over a bubble in housing prices.

Freelancer.com founder and chief executive Matt Barrie, while admitting the 457 visa was in need of reform, told Business Insider that the changes to the skilled labour program were a blunt instrument to cool real estate prices.

“This is a property bubble that successful Australian governments have done everything they can to keep reflating, because when it pops, it threatens to bring down the Australian economy — and right now, it’s panic stations.”

The hot property market , especially in Sydney and Melbourne, has become a political challenge at both federal and state government levels. Federal treasurer Scott Morrison is tipped to announce some level of policy response – such as a dollar cap on negative gearing and a limit on number of investment properties – to curb the growth in prices when he hands down the budget next month.

A National Australia Bank study showed that in the first quarter of this year, overseas investors bought up 10% of all new housing and more than 7% of existing […]

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The News for the Gig Economy Staff is constantly searching the web for the latest news regarding freelancing and gig platforms to bring them to you in one handy place. All articles with this generic author have been sourced with the original location at the bottom of the piece. We encourage our readers to view the original source of all excerpts. NGE is a project of ARC Online, LLC.

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