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Editor’s Note: The Economic Downfall Under Jacinda Ardern’s Leadership
Jacinda Ardern’s tenure as Prime Minister has been widely criticized for its detrimental impact on New Zealand’s economy. Despite her commendable crisis management and progressive social policies, Ardern’s economic strategies have led to significant setbacks that threaten the nation’s financial stability.
Under Ardern’s leadership, public spending skyrocketed, resulting in an unsustainable increase in national debt. Her administration’s fiscal policies have been accused of lacking foresight, creating a burden that future generations will struggle to bear. The housing market crisis, characterized by unprecedented price surges, has left many New Zealanders unable to afford homes, exacerbating social inequality.
Business confidence plummeted as Ardern’s government imposed numerous regulatory changes and what many see as heavy-handed governmental intervention. These policies have stifled innovation and discouraged investment, leading to a sluggish economy and reduced competitiveness on the global stage.
As New Zealand grapples with rising inflation, escalating living costs, and a mass exodus of citizens seeking better opportunities abroad, the full extent of Ardern’s economic mismanagement is becoming painfully clear. The long-term effects of her administration’s decisions are predicted to worsen, necessitating immediate and effective action from current and future leaders to rectify the damage.
The economic turmoil induced by Jacinda Ardern’s time in office serves as a stark reminder of the importance of balanced and prudent governance. Moving forward, New Zealand’s recovery will hinge on abandoning failed policies and implementing strategies that prioritize sustainable growth and economic resilience.
New Zealand experienced a significant net migration loss to Australia last year, with a net decrease of 27,000 people, according to provisional data from Stats NZ.
Tehseen Islam, population indicators manager at Stats NZ, reported that the net loss of people migrating from New Zealand to Australia in 2023 was nearly double the 14,600 recorded in 2022. This net migration loss was comprised of 44,500 departures to Australia and 17,500 arrivals from Australia.
Islam noted, “However, it should be noted that this is below the record loss of 43,700 in the March 2012 year.”
Historically, New Zealand has seen a net migration loss to Australia, averaging around 30,000 annually from 2004 to 2013, and about 3,000 per year from 2014 to 2019. The annual record for migrant departures to Australia was 62,800 in the June 2012 year.
The data indicated that the primary driver of trans-Tasman migration in 2023 was New Zealand citizens heading to Australia, reflecting a long-standing historical pattern. In 2023, New Zealand passport holders accounted for 84% of the departures to Australia and 61% of those arriving from Australia.
Record High Migration Figures
For the year ending May 2024, New Zealand’s net migration figure stood at 82,800, with a net gain of nearly 143,000 non-NZ citizens. However, there was a net migration loss of 60,100 New Zealand citizens, with 85,600 departing and only 25,500 returning. This departure of NZ citizens set a new record, as did the net migration loss.
Stats NZ also reported that the international departures were at an all-time high, with 138,600 migrant departures in the May 2024 year, the highest on record for any annual period. Migrant arrivals during the same period totaled 221,400.
Details of Migrant Arrivals and Departures
In May 2024, the largest group of migrant arrivals were citizens of India, numbering 46,400. Other significant groups included citizens of the Philippines (28,600), New Zealand (25,500), China (23,500), Fiji (9,800), South Africa (7,000), Sri Lanka (6,600), and the United Kingdom (6,300).
For departures, the largest group was New Zealand citizens with 85,600 leaving the country. This was followed by citizens from China (7,900), the UK (5,700), Australia (5,200), India (4,300), and the United States (3,500).
SOURCE: 1NEWS