The economic impact of significant falls in migration as a result of COVID-19 could be offset by restructuring the Business Innovation and Investment Program (BIIP), leading wealth manager Atlas Advisors Australia says.
Executive Chairman Atlas Advisors Australia, Guy Hedley said an anticipated 85 per cent fall in migration in the 2020-21 financial year compared to 2019-20 year posed serious ramifications for Australias economic growth and could exacerbate the potential for a deep recession.
This impact could be substantially offset by restructuring the BIIP to encourage a higher proportion of high net worth migrant investors with greater capacity to assist Australias economic recovery, Mr Hedley said.
The A…
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