A Coalition government would cap Net Overseas Migration (NOM) at the number of new homes completed, under a further instalment of the opposition’s migration policy to be announced by Liberal leader Angus Taylor in his budget reply on Thursday.

The opposition earlier released the first stage of its policy on migration, which proposed changes designed to better align the migrant intake with Australian values including by putting the Australian Values Statement, which migrants sign, into law.

But the opposition has been under pressure to give a number for the intake. The policy Taylor will announce will do this only indirectly and imprecisely. It is likely to face criticism from, on the one hand, those who want a precise number and on the other hand from those who say it would be too limiting to link the number so firmly to one measure.

Under the policy, each year the housing minister would report to parliament on how many new homes were........

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