The Prime Minister has confirmed he will not sign Australia up to the UN’s global compact on migration.

The United States and some European countries have already refused to take part in the deal which asks countries to commit to safe, orderly and regular migration.

Scott Morrison tells Alan Jones the international agreement would threaten Australia’s border security.

“It doesn’t distinguish between those who illegally enter Australia and those who come the right way.

“I would never allow something to compromise our borders. I worked too hard to ensure that we weren’t in that position.

“This global compact on migration, it’s not a good deal, we’re not going to sign up to it because I believe it would compromise us.”

Still on migration, the Prime Minister says he will announce “a fair-dinkum” cut to Australia’s immigration levels in the middle of next year.

“The migration program is set a year in advance. This year’s program is already set.

“We’re going to have to make a decision in next year’s budget for the program that follows that.”

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Meanwhile, the Prime Minister says Labor’s plan to reform negative gearing, will “smash the value” of people’s homes.

The Opposition wants to ban investors from applying the tax break to existing properties.

It would also double the amount of tax people pay on the profits from the sale of a property.

Mr Morrison says the policy doesn’t make sense.

“What we’ve seen in the housing market most recently has been a real softening, which I know is a real concern to many Australians.

“What Labor are proposing is to smash the value of your house, it’s that simple.”