Australia must attract 250,000 migrants a year to boost the economy by $1.6 trillion by 2050, new modelling shows.

If migration policies don’t change between now and then our projected population would be 38 million.

The findings are the result of independent modelling commissioned by the Migration Council of Australia which warns about the dangers of reducing net migration.

The report says migration is likely to increase gross domestic product per capita by 5.9 per cent and raise work force participation by 15 per cent.

The council says migrants contribute more to government coffers and draw down less in services because they are younger, more highly educated and have higher employment participation rates.

The Federal Government reportedly has chosen an annual migration intake of 215,000 – below the current net migration figure of 224,300 – as the base assumption of its intergenerational report which is due for release on Thursday.