Mimicking populists will not ease cost of living or boost productivity, Mathias Cormann warns

Former minister and OECD head urges Australia not to adopt migration caps, with research showing migrants boost employment

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Australia's mainstream political parties are being warned not to adopt populist policies such as migration caps to address voters' grievances over the cost of living.

Instead, Australia's longest-serving finance minister, Mathias Cormann, is urging politicians to deliver housing, real wage growth and lower energy costs by boosting productivity.