Opening borders for rich pricks to counter exodus highlights how desperate National’s economic plans really are
Mediawatch: Golden visas obscured by politics and talkback pushback
The announcement of new so-called golden visas for offshore investors was carried live on the websites of major news media last Sunday.
It was second only to the developing spat with Cook Islands on the 6pm TV news, but some journalists had been briefed in advance.
The previous day – under the headline ‘Government to overhaul ‘golden visa’ for wealthy migrants who want to take risks’, Stuff’s Andrea Vance said Immigration Minister Erica Stanford had already told the Post the visas would be coming.
On Monday, Newstalk ZB’s morning bulletins led with former Labour minister Stuart Nash’s endorsement of the Active Investor Plus visa.
“Your wealth has got to be proven as coming from legitimate sources. These are good people. They add value,” Nash told host Mike Hosking.
(Former minister Stuart Nash has skin in this game. After leaving politics he became the commercial director here for global headhunting and recruitment form Robert Walter.)
But when the story led RNZ’s Midday Report last on Monday, business editor Gyles Beckford pointed out New Zealand is liberalising rules at a time when other countries, particularly in Europe, have been tightening up.
“In Europe… the concerns are about money laundering arising out of Russia, Belarus, involvement in the Ukraine war. [They] have been concerned about…the sort of people that they’re getting,” he said.
On Scoop.co.nz Gordon Campbell cited a recent Bloomberg News analysis of that.
“The golden visa schemes are packaged and sold as bolt-holes for people – and their riches – should the wisdom of heading for the airport at short notice ever become apparent,” Campbell wrote.
The fact that National have been so thirsty here by allowing rich pricks to spend a mere 3 weeks in the country to be considered living here, highlights just how desperate the National Government are.
They have introduced an Austerity Budget without comprehending the impact down stream on the constructions and skills sector who with no guaranteed work plan have fled to Australia in an exodus never seen before.
The sTATE OIF nz has always been required to be the foundation stone of the NZ Economy because we are 3 huge sparsely populated Islands and the State has always had to step in, National are stepping back and that is causing enormous damage in the community and the economy.
Golden Visas are a sign of desperation, not planning.
National have put all the eggs in this Investment Summit and seem giddy with excitement that it will work.
I think they are confusing their love of putting on successful corporate events for an Economic Policy.
The OCR cut has nothing to do with National policy and everything to do with the post Covid economy realigning supply chains.
The truth is that beyond deregulating for their Donor mates, National have nothing to offer.
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Yep. Zero respect for NZ sovereignty from the Nats or the Maori separatist crowd in the 3 parties on the other side.
The future is bleak for ordinary kiwis whichever way they look.
Worth thinking about a move overseas for young folk.
Or the gutless coalition partners who could do something about it but choose power over everything else.
If Labour had any principles, they’d be talking about how they would strip the paper citizenship from these alien foreigners (and the likes of the blood drinker who was given a fake citizenship in 2011) on day 1 if elected.
It used to be that Labour were the change agents and National were the managers. Now Labour have the ideas for change but too frightened to implement them and National have no ideas or what it is they need to manage. Then there are all the cling-on party’s who just want a free feed like gatecrashers at a funeral luncheon.
We are boxed in going down a hole that is getting deeper by the day, the system is broken and urgently needs repair.
These rich people usually travel the World and if they promote NZ as they go about their business where is the problem.When you have an asset you use it. to the best advantage. NZ is a stable safe country where people can visit and perhaps invest in.
No they don’t Trevor. If they thought NZ was so great why not move here permanently instead o 3 week every three years.
Can you tell me any business that has been set up under the previous schemes of this nature that are still operating or delivered on there promises.
Many are just ticking over while the rich person is guaranteed a place here any time they wish.
The country is so bad that even Luxons kids aren’t sticking around.
Well said Uncle Tom. But your logic and evidence will be lost on this site, remember it is true, all rich people are dreadful.
Why didn’t you always look on the bright side with the previous government? The golden Visas are the first part of a plan to increase house prices, he next move will be to let them buy houses. Maybe they will have to set up a NZ company to buy the house, their only idea to get wealthy is to continue the ponzi housing scheme.
The houses sold will be over 2 million hardly ones that are built for first home buyers. They buy them and then emp,oy tradesman to renovate to their taste so the seller wins and the tradesman have work
I have found that some immigrants are unreliable payers and not worth working for. A Korean guy that another Korean I had worked for had recommended me to him had purchased a house in an expensive area, nice lawn and looked tidy but a disaster. I did some work to fix the gutters and he asked me what I thought he should do, I told him to pull it down and build again. His English language ability was poor but he didn’t like that idea and refused to pay for the work I had done. I had a Korean friend at church talk with him and she described him as dishonest.
Another Afghan builder that I meet doing earthquake repairs had me do a reroof then disappeared after only paying about 1/3 of the bill.
You have obviously swallowed the lie about housing wealth, read the link below for another perspective
https://thekaka.substack.com/p/where-will-your-kids-raise-your-grand#poll-275075
2 customers out of how many and I would be surprised if no nz born people had let you down
I have had 5 bad debts over 35 years and another 2 of those were immigrants, my high trust business model (I don’t ask for any advance payment) is a bit high risk although most of the time I had repeat work for builders I know or people recommending me to friends although with the builders retiring or dying that work supply is reduced now. Luckily I can afford to work because I want to and not because I have to which is a lot better position than young people are in today because of the excessive housing cost caused by the housing ponzi scheme. Productive enterprises create wealth by taking lower value inputs and producing a higher value product (agriculture, manufacturing, knowledge) while parasitic enterprises (gambling, rental property) simply transfer wealth that others have earned and do not increase overall wealth. You don’t have to be very clever to take wealth from others which is why the parasitic (financialisation) of all economies has been rapid since the 1980s.
I had this vision of multi billionaires building nuclear shelter bunkers at Wanaka. After the apocalypse being attacked and eaten by mutant wekas and surviving locals.
look, how you, our intrest rates have shallow, gone down, who the slack jaw, next to who you think, our time minuet is going to raise workers wages, to still afford home ownership. Care, daft care, without Greeds lies.
Engel, what, call the thing, this thing.