PM dumps 457 visa, replaces it with lookalike

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New Australian Prime Minister Malcolm Turnbull answers a question after announcing his new cabinet at a press conference in Canberra on September 20, 2015. Turnbull announced the cabinet reshuffle, promoting more women to key positions just days after he ousted Tony Abbott in a party coup. AFP PHOTO / Peter PARKS (Photo credit should read PETER PARKS/AFP/Getty Images)

“Jobs for Australians” may be Turnbull’s new catchcry, but his recent abolition of the 457 visa won’t assure this.

Number crunchers have revealed that less than 10 per cent of current 457 visa holders would hypothetically be affected by the PM’s announcement. This means over 90 per cent would still be eligible to accept jobs over Aussies.

Of the 651 occupations offered to foreigners, 435 remain. The HR, manufacturing and web development industries will endure the most foreigner losses.

The 457 visa grants skilled migrants temporary residency for 4 years, after which they can apply for permanent residency. Under the new scheme, migrants will only be granted residency for two years, with no automatic option of applying for permanent residency.

Top research universities have cried foul, saying this will disrupt their niche research projects, many of which are manned by international experts. The changes, however, won’t affect existing 457 visa-holders.