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Covid 19 coronavirus: Government targets rich investors as part of its reset of immigration settings
17 May, 2021 06:00 AM
6 minutes to read
Economic Development Minister Stuart Nash said the new border exceptions would allow more than 200 wealthy international investors to come to New Zealand over the next 12 months. Video / Mark Mitchell
Economic Development Minister Stuart Nash said the new border exceptions would allow more than 200 wealthy international investors to come to New Zealand over the next 12 months. Video / Mark Mitchell
Wealthy investors and highly-skilled workers will be the targets of New Zealand s Covid-19 immigration reset to reduce the economy s reliance on low-wage migrants.
MONIQUE FORD/STUFF
BusinessNZ chief executive Kirk Hope is disappointed with the Government’s announcment that opening of the borders will not see a return to previous immigration levels. Nash pointed out that in the decade prior to Covid-19, the number of people on temporary work visas doubled to more than 200,000, making up almost 5 per cent of New Zealand s labour force, which was high compared to other OECD countries. He said that, rather than investing in plant and machinery to increase production, or employing and up-skilling Kiwis, businesses had been able to suppress wages by relying on lower skilled migrants.