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Treasurer Jim Chalmers has said One Nation’s migration proposal would be “devastating” for the Australian economy, both in the short-term and long-term. “I think what One Nation is proposing would be devastating for the economy in the near term and absolutely diabolical in the longer term, in the context of a population which is ageing and fertility rates which are falling faster than we anticipated even a few years ago, because people are taking the decision to have smaller families later in life,” he told ABC’s 7.30 program last night.Treasurer Jim Chalmers.Alex Ellinghausen“Migration is a force for good in our economy and in our society so long as it’s well managed, robustly and transparently managed, and that’s why I think the changes that Tony Burke announced Thursday of last week are just so important, because they are about normalising net overseas migration down to more appropriate levels.”Home Affairs Minister Tony Burke said during his address to the National Press Club last week that the government would seek to cut net overseas migration to 245,000 a year for the 2026-27 financial year and 225,000 per year from 2027-28 onwards. One Nation’s migration plan would enforce a net overseas migration number of 130,000 a year.