Immigration high on the agenda ahead of election
Immigration has become one of the hot topics ahead of New Zealand’s general election in September. Parties are outlining their plans in a hope to attract voters. These include limiting investment in property as a way of encouraging immigrants to move to regional areas and restricting foreign visas.
New Zealand’s strong economy has meant an influx of migrants. Many citizens who moved overseas are also moving back home. With an average 3.3 per cent annual growth in recent years New Zealand is outperforming countries like the US and UK. The positive growth also means that New Zealand is one of the only developed nations to have pushed up interest rates since the financial crisis.
Annual migration rates are set to go beyond 40,000 and are already at their highest level in more than a decade. The majority of immigrants come from Australia, according to Gareth Kiernan, managing director of Infometrics.
He added that the increase in the number of immigrants choosing to come to New Zealand for work was due to the strengthening labour market. Kiernan said that other overseas labour markets, including Australia’s, were struggling.
However, the increase in migrant numbers is putting pressure on the housing market. In April property prices hit a record high. Migration issues are therefore likely to play a major role as the election approaches.
The NZD exchange rates on 10/07/2014 were as follows: GBP NZD = 1.9429, EUR NZD = 1.5435, USD NZD = 1.1343, AUD NZD = 1.0654, CHF NZD = 1.2708, INR NZD = 0.0189, AED NZD = 0.3091, MXN NZD = 0.0873, CAD NZD = 1.0649, ZAR NZD = 0.106, RUB NZD = 0.0333, . See today's New Zealand Dollar Exchange Rate
Leave a Comment