Parliament

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

 

Stop-Start Immigration Damaging The Economy

Fri, 5 Nov 2004

Stop-Start Immigration Damaging The Economy

Friday 5 Nov 2004 Dr Muriel Newman - Press Releases - Immigration

ACT New Zealand Deputy Leader and Immigration Spokesman Dr Muriel Newman today accused the Labour Government of largely causing a crisis of confidence in the New Zealand housing market.

"Immigration is a portfolio that needs to be carefully managed," Dr Newman said.

"New Zealand needs consistent growth, so that the housing needs of a steady increase in population can be readily catered for. But, under Labour's watch, immigration policy has been pushed and pulled from one extreme to the other - with disastrous consequences.

"Latest figures show that, only a decade ago, New Zealand had an average net in-flow of 10,000 per year. By 2003, however, that had skyrocketed to 40,400 - placing enormous pressure on the housing market, and resulting in a huge building programme to address the demand for affordable housing.

"But a political and public backlash over the escalation in the number of immigrants entering the country led to a knee-jerk reaction from Government: Labour hauled on the brakes.

"As a result, net migration has now halved, plummeting to 17,800 for the 2004 year. It is projected to drop even further to 12,000 in the year to March 2005.

"It is this - along with rising interest rates, due in part to the Government's spending of the $7 billion `windfall gain' surplus - that is causing a developing crisis in the housing market. After adjusting to meet the demand created by Labour's immigration policy, property owners and investors are now being hung out to dry.

"Private property investors should be mindful that the Government is largely to blame for the current risk to their livelihoods. By taking a stop-start approach to immigration - rather than a considered, consistent one - Labour is causing harm that the country and the economy could well do without," Dr Newman said.

ENDS

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

RBNZ To RNZB: PM's Press Conference

Prime Minister Jacinda Adern was joined by Minister of Finance Grant Robertson and Minister for Children Tracey Martin to announce the appointment of Adrian Orr as the new Governor of the Reserve Bank and the name change of the Ministry for Vulnerable Children to ‘Oranga Tamariki - Ministry for Children’.

Robertson said he and the Cabinet viewed Orr in high regard. Terms will be agreed on his employment after the reserve bank act review. The future governor's pay would be greatly reduced - in the same scale as the most recent governor. More>>

 

'Taming Globalised Capital': Why Is Labour Supporting Investment Rules In WTO?

‘Today, we learned the new government has added New Zealand’s name to a proposal designed to lead to foreign investment rules in the WTO at this week’s ministerial meeting in Argentina,’ said Auckland University Professor Jane Kelsey. More>>

ALSO:

Gordon Campbell: On The Politics Of Scaring Voters Back Into Line

Fear has always been a useful mobilising tool in politics… yet in 2017, bogeymen of all shapes and sizes seem to have fallen on hard times. For years, the National party had painted itself as being the only reliable defensive bastion against the terrifying prospect of a centre-left government… More>>

ALSO:

Gordon Campbell: On Drinking Water As A Failure Of Political Leadership

It is almost possible to feel sorry for the Health Ministry in their terrible, no good, very bad week... More>>

ALSO:

Gordon Campbell: On Saying ‘Work For The Dole,’ Nicely

As New Zealand First learned the hard way from its two previous periods in government, small parties in MMP coalitions get blamed for the unpopular stuff done by their senior partner in power, but no one remembers the good stuff the junior player brought to the table... More>>

ALSO:

Seismic Blasting: Greenpeace Launches Legal Challenge Against Amazon Warrior

A legal challenge against the world’s largest seismic oil exploration ship was launched at a public rally on Parliament Lawn. More>>

ALSO:

Tertiary: 80,000 People Eligible For Fees Free

The Government has today made good on its 100-day promise of delivering the first year of fees-free post school training and education and industry training from 1 January next year, says Education Minister Chris Hipkins. More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages