Key to rich mates: NZ for sale

• Michael Foxglove
• 14 years ago
• Categories: john key, overseas investment

John Key’s residency for the rich scheme has attracted the interest of 12,000 people thus far. Yes, NZ residency is for sale at the measly investment of NZ$500,000 and a few low-paid jobs. The Herald notes:

Thousands of wealthy foreigners are lining up to move here, just weeks out from the introduction of business migration laws that will grant them residency almost immediately…

About 12,000 people have registered their interest in the scheme through the service’s website, with 189 looking to invest $1.5 million or more – a total potential investment of at least $283 million.

Actually, the last thing New Zealand needs is 12,000 more wealthy property developers (property was one of the most popular investment options). All that will do is put land prices even further out of reach for middle New Zealand.

Also, it’s unethical that Key is happy to sell residency to his rich Wall Street and City mates, while the truly needy struggle to get here. We should dispense with the Key “wealth for residency scheme”, and take 12,000 refugees instead – people who are actually in dire need of decent living conditions and liberty.