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Australian visa costs to rise by up to $1,000

ABC RADIO AUSTRALIA Updated 22 October 2012, 18:41 AEST

The Australian government will increase visa costs by up to one thousand dollars in an effort to generate increased revenue in light of falling commodity prices an unsteady global economy.

The treasurer Wayne Swann has today released the mid year economic update, which details adjustments to savings and expenditure to the budget released last May.

He has had to look for substantial savings to achieve the government's promised return to surplus by mid 2013.

The aid budget has largely been spared, but the cost of dealing with an increase in the number of asylum seeker boat arrivals is set to hurt the bottom line.

Canberra correspondent Stephanie March reports.

Presenter: Stephanie March

Speaker: Maurene Horder, CEO of the Migration Institute of Australia; Wayne Swan, Australian Treasurer

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