I would say it's a self solving problem. There's a negative feedback effect between economic outcomes and population growth. Plus shitloads of automation technology reducing the demand for certain kinds of work. We don't need to keep suppressing wages by flooding the labour market.

Immigration with the express purpose of keeping labour costs low (which is the Liberals' stated reason for their current approach) is basically trading human dignity in the form of a living wage in exchange for subsidizing businesses who refuse to pay their workers more.