Australia has entered a “per-capita” recession for the first time in 13 years and Conservative Party leader Cory Bernardi says unless our immigration rate is cut in half, there is far worse to come.
News Corp reports, the government is telling you not to panic, but the news isn’t great.
New figures have confirmed the nation’s economy has slowed notably, recording its second straight quarter where the economy shrank on a per-capita basis.
What does this mean? GDP, or gross domestic product, measures the total value of goods and services produced by a country. This is used to assess how that country’s economy is going.
On a per-capita basis, Australia’s total GDP growth level has shrunk over two consecutive quarters. It shrank at 0.1 per cent and 0.2 per cent in the September and December quarters respectively, according to the Australian Bureau of Statistics.
Senator Bernardi told Peta Credlin on Sky News, the way to fix our economy is to cut the immigration rate now.
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