Playing devil's advocate here.This news coupled with massive delays on current Lodged applications would mean that new EOI and ITA applicants could potentially be affected.
It would also reduce the country overall competitiveness as new migrants will think twice before committing to Australia
I believe this is a positive step. It's not against immigration - it attracts the right people to permanently settle and contribute to the country. To be honest, the quality of immigrants, at least a large percentage of us, heading over to Australia is appalling. Most have never even stepped foot in the country to begin with, what more to say about the struggles of assimilation and whether they can translate well into the workforce.
If we can't survive through a provisional visa, then I don't think we deserve settling in the country permanently.
And trust me, implementing this visa will not reduce the country's overall competitiveness, be it economically or otherwise. It'll aid in getting the right people in.