New Zealand’s new PM to reduce immigration by only 30,000

Jacinda Ardern, New Zealand’s new Prime Minister, said their Labour Party will not reduce immigration to 10,000 as demanded by Winston Peters, New Zealand First leader, but would cut it only by about 30,000 from the present figure of about 73,000.

Ardern was quoted as saying in an interview with The Nation, which was broadcast on 20 October, that their party’s policy would not change because of their negotiations with Peters.

The impending reduction of immigration is one of the Labour Party’s policies that have begun worrying investors, besides increased social spending and central-bank reform are adding to their apprehensions about the economy slowing down. Ardern, who is another young leader like Emmanuel Macron, or Sebastian Kurz, will be the world’s youngest female to be anointed as leader of a country.

Ardern was supported by Peters to rule on 19 October following 12 days of negotiations, despite the fact the Labour Party, she heads, finished second in the 23 September election and the ruling National Party was not unable to get a majority.

Both Labour and New Zealand First parties’ campaign promises included cutting down immigration, which, according to them, had grown too fast, claiming that they had strained infrastructure, housing and public services.

Stating that some immigration was still necessary to plug skill shortages, Ardern said in the interview that there was unquestionably pressure based on the fact that the earlier government’s whole growth agenda was emphasising too much on growth of population.

Ardern also said the loss of intensity was what she expected to see in the housing market as the new government led by her is pursuing boosting construction of homes, which would be cheaper and smaller.

Bill English, the former Prime Minister, faced flak from some voters for not being able to handle the spike in house prices, making them unaffordable for many nationals of New Zealand. It is said that home ownership was never so low since 1951.

Ardern said their government could ensure that they could make available affordable housing without paring much the value of existing homes of peoples.

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