Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search


Immigration Behind Interest Rate Rises

Today's interest rate rise by the Reserve Bank is dramatic and has serious implications, ACT leader Richard Prebble says.

"It will have, over time, a considerable impact on the export sector and then on home ownership," Mr Prebble said.

"New Zealand is the only country in the OECD to have made two interest rate rises in such a short time. It could trigger a rise in the New Zealand dollar, which would have an immediate impact on the export sector.

"The Reserve Bank cites inflation as the reason for the rise in interest rates. But what is significant is the reason for this inflationary pressure. No doubt the principle driver of inflation is again Auckland house prices, which in just 12 months have gone from a 10-year low to an all-time high.

Auckland house prices are being driven by the government's reckless immigration policies.

"Twelve months ago, the government increased immigration quotas. But it failed to make any adjustment after September 11 when a large number of Kiwis returned home from overseas.

"So we are back to the old cycle, where the provinces are devastated by interest rate rises designed to dampen down an Auckland housing boom, generated by government incompetence," Mr Prebble said.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Scoop 3.0: How You Can Help Scoop’s Evolution

Entering into its third decade of operation, the Scoop news ecosystem is set to undergo another phase of transformation and evolution.

We have big plans for 2018 as we look to expand our public interest journalism coverage, upgrade our publishing infrastructure and offer even more valuable business tools to commercial users of Scoop. More>>


Speaking Of Transport: Public Engagement On Wellington Scenarios

“Our work on possible solutions for Wellington’s transport future is ongoing, but has progressed to the stage where we’re ready to share our ideas with the public and seek their feedback to help guide our next steps...” More>>


Parental Leave: National's Time-Sharing Change Fails

National has proposed a change to the Parental Leave and Employment Protection Amendment Bill that would allow both parents to take paid parental leave at the same time, if that is what suits them best. More>>


Train Free Thursday: Workers Strike To Defend Terms Of Employment

"They signed up to these conditions a year ago when they got the contract for Wellington's rail services. Now they're trying to increase profits by squeezing frontline workers." More>>


Seclusion: Ombudsman Emphasises Importance Of Monitoring

Disability Rights Commissioner Paula Tesoriero says that while there have been changes to the Education (Update) Amendment Act 2017 to prohibit the use of seclusion, the report is an important reminder of the importance of regular monitoring of schools. More>>


United Future History: "All Good Things Must End"

'We’re extremely proud of what we’ve achieved over the past 15 years, working alongside the government of the day, both National and Labour.' Mr Light told members on Monday. More>>

Gordon Campbell: On The TPP Outcome, And The Hobbit Law

Somehow the Trans Pacific Partnership trade deal has come lurching back from the dead – and as predicted in this column last week, the member countries gathered in Vietnam have announced a deal in broad principle, shunted aside until a later date the stuff on which they don’t agree, and declared victory. More>>

Agreeing To Differ: Greens Maintain Opposition To TPPA
“The Green Party has long opposed the TPPA. The new proposed deal, which came out of the weekend’s talks, still contains key ISDS concessions to corporations that put our democracy at risk, so our position remains the same,” said Green Party trade spokesperson Golriz Ghahraman. More>>


Monitoring Report: A New Chapter For Children’s Rights In New Zealand?

The Children’s Commissioner is calling on the country to embrace children’s rights to ensure their overall well-being. More>>





Featured InfoPages

Opening the Election