1 00:00:00,160 --> 00:00:02,600 Speaker 1: Back here, and also on the subject of immigration. The 2 00:00:02,759 --> 00:00:05,600 Speaker 1: Golden Visa appears to be a success. It's attracted five 3 00:00:05,680 --> 00:00:08,560 Speaker 1: hundred and seventy three applications, one billion dollars has already 4 00:00:08,600 --> 00:00:11,360 Speaker 1: been invested, and two point three four billion dollars will 5 00:00:11,360 --> 00:00:13,840 Speaker 1: be invested in the next six months. Immigration Minister Erica 6 00:00:13,880 --> 00:00:17,240 Speaker 1: Stanford is with us now, Hi, Erica, good afternoon. Where's 7 00:00:17,239 --> 00:00:17,840 Speaker 1: the money going? 8 00:00:19,079 --> 00:00:22,320 Speaker 2: Oh, all sorts of fabulous places. A lot of it 9 00:00:22,440 --> 00:00:27,000 Speaker 2: is going into venture capital and private equity. In fact, 10 00:00:27,040 --> 00:00:32,199 Speaker 2: today we were announcing the milestone at a business that 11 00:00:32,320 --> 00:00:34,720 Speaker 2: was a software as a service business in the horticulture sector. 12 00:00:35,760 --> 00:00:38,519 Speaker 2: Are now able to go to the next piece of 13 00:00:38,560 --> 00:00:40,839 Speaker 2: technology that they're going to be inventing and taking to 14 00:00:40,880 --> 00:00:44,959 Speaker 2: the world and employing more people. So it's phenomenally successful. 15 00:00:45,000 --> 00:00:46,720 Speaker 2: But most of the money is going into managed funds. 16 00:00:46,840 --> 00:00:49,800 Speaker 1: Oh fantastic. Now it looks to me like I had 17 00:00:49,800 --> 00:00:52,040 Speaker 1: a look back when you announced that foreigners would be 18 00:00:52,080 --> 00:00:55,280 Speaker 1: able to buy houses. The number of applications from that 19 00:00:55,440 --> 00:00:57,680 Speaker 1: point to now seems to have ramped up. Has that 20 00:00:57,720 --> 00:01:00,560 Speaker 1: made a difference, Yeah. 21 00:01:01,160 --> 00:01:04,720 Speaker 2: It's hard to know. We were on the trajectory we're 22 00:01:04,760 --> 00:01:07,880 Speaker 2: on was ramping up anyway, there's a number of reasons 23 00:01:07,880 --> 00:01:10,000 Speaker 2: for that. The world is in a bit of a 24 00:01:10,000 --> 00:01:12,600 Speaker 2: tumultuous state at the moment. I think it probably has 25 00:01:12,720 --> 00:01:15,200 Speaker 2: had an impact. It's really hard to tell yet because 26 00:01:15,200 --> 00:01:18,360 Speaker 2: we haven't finalized the regulations around the house buying yet, 27 00:01:18,400 --> 00:01:20,000 Speaker 2: so no one's been able to buy a house. But 28 00:01:20,440 --> 00:01:23,360 Speaker 2: until that happens, we won't know. But no doubt it 29 00:01:23,400 --> 00:01:24,400 Speaker 2: has had some impact. 30 00:01:24,680 --> 00:01:27,480 Speaker 1: And how seriously do you take this business of the 31 00:01:27,480 --> 00:01:28,200 Speaker 1: Trump effect? 32 00:01:30,240 --> 00:01:33,840 Speaker 2: I think it's not just that it's worldwide. There is 33 00:01:33,920 --> 00:01:36,520 Speaker 2: an unrest in the world at the moment, and if 34 00:01:36,560 --> 00:01:39,000 Speaker 2: you look at Europe, we've got significant numbers coming out 35 00:01:39,000 --> 00:01:44,520 Speaker 2: of Europe. In fact, the numbers out of Germany are significant. 36 00:01:44,680 --> 00:01:47,800 Speaker 2: So it's not just that part of the world. It's 37 00:01:47,840 --> 00:01:50,600 Speaker 2: Europe as well. So we are seen as a safe 38 00:01:50,600 --> 00:01:54,640 Speaker 2: haven with fabulous natural resources, of stable government, great people, 39 00:01:55,080 --> 00:01:57,640 Speaker 2: a wonderful place to raise a family, and investors are 40 00:01:57,640 --> 00:01:59,080 Speaker 2: excited to do business here. 41 00:01:59,360 --> 00:02:02,040 Speaker 1: Interesting. Now, are you seeing we've got our migration stats 42 00:02:02,080 --> 00:02:04,680 Speaker 1: out from stats in z today. Are you seeing anything 43 00:02:04,680 --> 00:02:06,360 Speaker 1: in those numbers that you actually like? 44 00:02:08,440 --> 00:02:10,799 Speaker 2: Well? I like the fact that the numbers of people 45 00:02:11,320 --> 00:02:14,960 Speaker 2: leaving are turning, which is good because we want New 46 00:02:15,040 --> 00:02:18,040 Speaker 2: Zealanders to stay here. We want them to see opportunity here. 47 00:02:19,520 --> 00:02:21,880 Speaker 2: I'm very comfortable with the numbers at the moment. I mean, 48 00:02:21,880 --> 00:02:25,520 Speaker 2: there was always the people who predict these things had 49 00:02:25,520 --> 00:02:27,680 Speaker 2: said that we were going to go into negative net migration. 50 00:02:27,840 --> 00:02:30,800 Speaker 2: I was confident that wasn't going to happen. But it 51 00:02:30,840 --> 00:02:34,320 Speaker 2: has stabilized around that sort of fourteen fifteen thousand mark, 52 00:02:34,360 --> 00:02:37,480 Speaker 2: which is historically low. The last twenty years or so, 53 00:02:37,520 --> 00:02:41,320 Speaker 2: it's about twenty thousand on average with peaks, as you know. 54 00:02:41,480 --> 00:02:43,960 Speaker 2: But we have done a huge amount of tightening over 55 00:02:43,960 --> 00:02:47,679 Speaker 2: the last two years to encourage highly skilled migrants who 56 00:02:47,720 --> 00:02:50,840 Speaker 2: have the skills and talent that we need. Because before 57 00:02:50,880 --> 00:02:53,160 Speaker 2: we came in, we had net migration running at one 58 00:02:53,240 --> 00:02:56,400 Speaker 2: hundred and thirty five thousand, and a huge proportion of 59 00:02:56,520 --> 00:02:59,720 Speaker 2: unskilled people who are coming in not properly vetted, and 60 00:02:59,760 --> 00:03:03,959 Speaker 2: we're vulnerable to migrant exploitation. We've completely turned that around. 61 00:03:04,000 --> 00:03:04,480 Speaker 2: What do you reckon? 62 00:03:05,040 --> 00:03:06,640 Speaker 1: The thing that I liked in those numbers was the 63 00:03:06,639 --> 00:03:09,519 Speaker 1: fact that there is a higher number of Kiwi's coming back. 64 00:03:09,880 --> 00:03:10,960 Speaker 1: What do you look that down to. 65 00:03:12,560 --> 00:03:14,720 Speaker 2: Well, I think all the work that we've done over 66 00:03:14,720 --> 00:03:17,839 Speaker 2: the last couple of years of you know, as our 67 00:03:17,960 --> 00:03:20,440 Speaker 2: catch cry, doing the basics brilliantly, and now they can 68 00:03:20,480 --> 00:03:22,280 Speaker 2: see there is a future here for them in New Zealand. 69 00:03:22,320 --> 00:03:24,880 Speaker 2: And look, this is always cyclical. If you go back 70 00:03:24,880 --> 00:03:26,519 Speaker 2: over time and look at the economy and as we 71 00:03:26,639 --> 00:03:29,679 Speaker 2: dip and grow and dip and grow, migration and KIWI 72 00:03:29,919 --> 00:03:33,600 Speaker 2: numbers leaving and coming back follow that exact same curve. 73 00:03:33,680 --> 00:03:37,800 Speaker 2: And now you're seeing the economy strengthen, more confidence in 74 00:03:37,840 --> 00:03:39,960 Speaker 2: the economy starting to flow, and you will see people 75 00:03:40,040 --> 00:03:42,200 Speaker 2: returning to New Zealand, which is a great sign. 76 00:03:42,400 --> 00:03:44,760 Speaker 1: Yeah, good stuff, Hey, Erica, thank you for your time. Appreciated. 77 00:03:44,920 --> 00:03:49,160 Speaker 1: Eric stand for the Immigration Minister. For more from Heather 78 00:03:49,280 --> 00:03:52,240 Speaker 1: Duplassy Allen Drive, listen live to News Talk said Be 79 00:03:52,440 --> 00:03:56,320 Speaker 1: from four pm weekdays, or follow the podcast on iHeartRadio.