One Nation unveils migration 'reset' to cut temporary migrant population by 750,000

One Nation has announced a plan to dramatically slash migration and bring it into "net-negative" for three years, attracting immediate pushback from the government and Opposition.

The policy would cut Australia's temporary migrant population by 750,000 over three years in a move that One Nation says would take pressure off housing and essential services and bring the temporary migration population back to 2017 levels.

It includes cuts to student visas, graduate visas, temporary skilled visas and bridging visa holders, as well as the "departure and removal of illegal migrants".

Following the "three-year reset", where more people would leave Australia than arrive, One Nation says its annual cap of 130,000 on net overseas migration (NOM) would remain in place and be reviewed each year.

Net overseas migration measures the difference between the number of people who arrive in Australia and those who depart, including returning Australians.

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Home Affairs Minister Tony Burke delayed a National Press Club speech in August in which he was widely expected to announce migration cuts. It is understood the cabinet is still finalising plans.

Party leader Pauline Hanson said her plan was about "restoring control and making sure migration serves Australia".

The proposal expands on One Nation's existing migration policy after the party was forced to clarify its position in recent weeks following confusion sparked by comments from One Nation MP David Farley .

Members of both Labor and the Coalition criticised the plan in Monday morning media appearances.

Health Minister Mark Butler said the plan would devastate the health and aged care sectors and smash certain industries like construction.

"Pauline Hanson said a few weeks ago, she didn't care what the impact of her migration policy would be on business, but this is just another level entirely," Butler told reporters on Momday.

Meanwhile, deputy Liberal leader Jane Hume told News24 a negative NOM would be a "real shock to the economy and it would make all Australians poorer".

"My concern here is that these numbers have simply been plucked out of thin air, that there isn't any modelling behind them," she said.