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Locked-out New Zealanders outraged as visa scheme for rich foreigners resumes

theguardian.com

191–200 of 216 posts

Re: Locked-out New Zealanders outraged as visa scheme for rich foreigners resumes

#191

Earlier quoted context omitted.

If we abolished MIQ then Aotearoa NZ would be riddled with COVID, many thousands or tens of thousands would have died, many many more living with chronic conditions and the economy and society crippled. As it happens less than 50 have died, each one a tragedy, while I’ve just had a lovely Christmas with 3 generations, as many others are around the motu. Sure we had to video call relatives in other countries, but thei…

Lance, honestly this is a pathetic reply. New Zealand is already riddled with Covid incase you havent noticed. Cases detected in the community outnumber those at the border 27x for the last week. Given this fact, why does MIQ still exist? Preventing new variants? Sure at the surface that might hold some credence, but that implies future responses will be to lock down again and impose massive economic costs and second…

Great comment. A wonderful country, spoiled by the slackers and narrow minded twits in charge.

Re: Locked-out New Zealanders outraged as visa scheme for rich foreigners resumes

#192

>Immigration New Zealand (INZ) recently granted 32 visas to people who pledged to invest at least $10m locally over three years and another 76 visas to individuals pledging to invest at least $3m, according to the news website Stuff. > With their visas in hand, investors may apply to compete for spots in New Zealand’s congested MIQ system. A stay in MIQ is a prerequisite for entry to the country, which has been large…

The visa scheme just leads to disenfranchisement of New Zealanders as they are slowly priced out of everything. Farm land is quickly being bought by foreigners in both Australia and NZ, which is having negative impacts on both of those countries. The countries are essentially being sold out from under their citizens.

Re: Locked-out New Zealanders outraged as visa scheme for rich foreigners resumes

#193

Earlier quoted context omitted.

My understanding of these schemes is that they are generally designed for rich people who accumulated wealth in countries where they might like to have a backup option if their government gets in a particularly seize-y mood. (e.g. China or Russia)

Aren’t most rich residents in NZ from the UK and US? That was my impression. The middle class are usually Chinese. But regardless, rich people in China and Russia don’t accumulate wealth simply by playing fair. Is NZ okay with this kind of wealth transfer to their country knowing this? (Well we all know the answer honestly)

That may very well be true for NZ.

I am more familiar with how these schemes work in the US, Canada and UK. At least in the US the scheme is particularly egregious since investing in real estate counts. https://www.mgac.com/blog/eb-5-real-estate-financing-trends-...

Re: Locked-out New Zealanders outraged as visa scheme for rich foreigners resumes

#194
post #3

Earlier quoted context omitted.

Anyone who urgently needed to return had the ability to secure a room in December. I don't see how this is relevant. Moving forward, citizens and migrant workers will still be forced to get in line behind wealthy investors.

When it comes to MIQ allocation they aren’t put ahead of anyone - everyone who has the ability to enter NZ has the same chance and ability to obtain MIQ slots.

I should have chosen my words better. The point is, given that there is limited capacity for MIQ slots -- some citizens will inevitably be bounced by pay-for-visa holders who are also in line.

Re: Locked-out New Zealanders outraged as visa scheme for rich foreigners resumes

#195

Earlier quoted context omitted.

What about people who can’t take the vaccine for medical reasons, or are too young? Fuck ‘em right?

Yes, exactly! The 90% can't live isolated forever because of the 0.2% who can't have vaccines for medical reasons. (The remainder is made up of those who've made anti-vaxx part of their identity). Put that money and resources into protecting the vulnerable, not into isolating New Zealand and severely impacting the economy in a vain attempt to keep a virus, which will be with us together, out. Human lives aren't infin…

Lol “draconian measures”. Yep we’re all under house arrest down here it’s awful. Basically the same as Stalin’s Russia.

Re: Locked-out New Zealanders outraged as visa scheme for rich foreigners resumes

#196
post #131

Earlier quoted context omitted.

> ...and their investments are going into companies which haven't done anything innovative in decades. Not all investment sparks innovation - and innovation takes years. I would not expect people investing their life savings to get into NZ to invest in high-risk tech startups, but the investments they make will help the NZ economy all the same. Investment flow where risk-adjusted returns are highest - that's the nice…

How will it help New Zealanders if they just invest in real estate? Seems like a good speculative bet for them, but mostly it just makes it more difficult for young people to get afoot in the property market....

Higher asset prices makes building property more profitable. It incentivizes more construction.

This is how the free market works, in general. When prices go up, it incentivizes asset creators create more. This is one of the down-sides of zoning limitations - they do not let the market provide more for the additional demand.

...and a simple Google search confirms that NZ has been experiencing a construction boom.

Re: Locked-out New Zealanders outraged as visa scheme for rich foreigners resumes

#197
post #196

Earlier quoted context omitted.

How will it help New Zealanders if they just invest in real estate? Seems like a good speculative bet for them, but mostly it just makes it more difficult for young people to get afoot in the property market....

Higher asset prices makes building property more profitable. It incentivizes more construction. This is how the free market works, in general. When prices go up, it incentivizes asset creators create more. This is one of the down-sides of zoning limitations - they do not let the market provide more for the additional demand. ...and a simple Google search confirms that NZ has been experiencing a construction boom.

Real estate is far from free market. Tons of regulation effectively makes it regulatory capture.

Re: Locked-out New Zealanders outraged as visa scheme for rich foreigners resumes

#198
post #137

Earlier quoted context omitted.

In practice MIQ capacity has been limited by the number of suitable hotels available, and the difficulty of staffing them. These resources are not very elastic.

Taiwan operates an effective home quarantine system (and 850 deaths for a 23m population). Why couldn’t NZ? There would be a lot more capacity that way.

I can't answer that in full because I don't know all the details, but one issues is that Taiwan captures phone location data in a way that has no precedent here.

Re: Locked-out New Zealanders outraged as visa scheme for rich foreigners resumes

#199
post #135

Earlier quoted context omitted.

The right to return to NZ does not automatically trump all other considerations. Without MIQ we couldn't have executed our elimination strategy. Probably thousands of people would have died of COVID, or we would have had stronger and longer lockdowns --- probably both --- all highly detrimental to the well-being of people living in NZ. So why should the right of return take priority over all that?

That sounds like fanciful thinking. There is quite literally nothing to suggest that having a higher intake would have created a single additional death or resulted in stronger or longer lockdowns. New Zealand's own incompetence in not being able to come up with purpose-built facilities to handle overseas arrivals can't be written off with hypotheticals. It has been two years, no more excuses.

I don't understand your point here. Are you claiming that we could have dispensed with MIQ altogether and kept COVID out some other way? Or are you claiming that we could have constructed enough MIQ infrastructure to let people come and go as they pleased at all times?

Re: Locked-out New Zealanders outraged as visa scheme for rich foreigners resumes

#200
post #67

Earlier quoted context omitted.

NZ isn't currently issuing visas outside of a few categories of "special worker in shortage". (In order to citizens and residents a better chance at getting a quarantine spot.) So this introduces a new special exception for the very wealthy.

In the biggest economic slump since the Great Depression maybe it makes sense to consider rich people who invest lots of money into the economy a "specialized worker" since they might play an important role helping recovery.

Biggest economic slump where 75% of population just doubled their salary via capital gains..?
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