Labor has resisted slashing overall migration, announcing changes that focus largely on foreign students. 

The Federal Government has announced a plan to revert immigration numbers to pre-COVID levels. 

The government's blueprint, revealed on Monday, pledges a visa system for high-earning overseas staff with a seven-day approval process, shifting focus to skilled workers in areas facing shortages.

The government’s mid-year economic outlook forecasts a decline in net overseas migration to 375,000 this year and 250,000 in 2024-25, considered the “normal” level. 

The government’s actions, including ending the pandemic event visa, have reduced net arrivals by 185,000 over four years.

The migration strategy introduces a three-tiered temporary skilled migration program, prioritising faster processing for skilled workers earning over $135,000. 

However, high-income tradespeople like machinery operators will be excluded from the fast-track, impacting mining and other industries. 

The overhaul also enhances protections for low-paid migrants while facilitating easier hiring of middle-to-high paid skilled foreigners - a compromise between the wants of unions and businesses.

The three-tier system's bottom tier, for those earning less than $70,000, is yet to be fully developed but is leaning towards low-paid jobs in aged and disability care industries.

To improve mobility and oversight, the government says it will establish a public register of approved employers, revamp labour market testing, and explore a staggered fee model for employers. 

The strategy also tightens access to international student visas, discontinuing the extension of stay post-graduation.

Labor has committed to reviewing the working holiday visa program, prioritising regional migration, but has delayed ending the option for foreign workers to extend stays in regions. Concerns about the agricultural sector's impact reportedly prompted this delay.

The strategy also aims to overhaul the points test, emphasising skill over perseverance, and introduces a potential “talent and innovation” visa to attract highly talented migrants.