Media Release

6 December 2002

Immigration Hurting Economy Says Peters

New Zealand First says Bank of New Zealand information just released shows that high levels of immigration are now indirectly harming our export industries.

Rt Hon Winston Peters said today that the BNZ’s weekly overview has outlined the negative effects of continually large net population gains on our economy.

“How can the Government continue to claim that immigration en masse is to our economic benefit when it is proven to be hurting our export sector, which is the cornerstone of our economy.

“The BNZ predicts that large population gains will continue next year, maintaining pressure on the housing market and forcing the Reserve Bank to keep interest rates at existing levels, which in turn will keep pushing up the Kiwi dollar.

“We have been warning this Government for a long time about the negative effects of high immigration levels.

“The harm to exporters is yet another reason to cut back numbers. Add the pressure on education, health and welfare services, as well as Auckland’s serious infrastructure problems, and we have a recipe for disaster.

“This Government is prepared to sacrifice our economy through its insane policies of importing votes and redesigning the ethnic makeup of our society.

ENDS

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