Category New Zealand Finance

Study Reveals Wealth Gaps in New Zealand

January 17, 2017 New Zealand Finance

Wealth in New ZealandNew data has shown the wide gap between the country’s wealthiest and poorest people.

In a new report published on January 16th, Oxfam New Zealand has revealed the state of income inequality in New Zealand, claiming that a small number of individuals in the country control more wealth than a significant portion of people.

In its report, Oxfam claimed that just 2 individuals have more wealth between each other than all the wealth held by approximately 30 percent of New Zealand adults.

Further, the richest 1 percent of all New Zealanders collectively hold 20 percent of the country’s wealth, while the bottom 90 percent of people holds less than half the country’s wealth.

The results of the report are based on analysis of total wealth, and not disposable income, as many high-wealth indivi...

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Global Impact Visa Partner Chosen

September 28, 2016 New Zealand Finance

Entrepreneur VisaThe government of New Zealand has taken an extra step forward to attracting more young entrepreneurs into the country.

In a statement issued on September 28th the Minister of Immigration Michael Woodhouse announced that a partner has been found to help the government implement the upcoming Global Impact Visa in New Zealand.

The new Global Impact Visa was first announced in April this year and is intended to help attract more young entrepreneurs to New Zealand.

It was deemed that the current Entrepreneur Visa system is not suitable for attracting younger entrepreneurs with innovative ideas, as the regulations are stacked in favour of established businesses and business operators with long-term experience and sizeable financial backing.

The potential visa applicants will be drawn in and ...

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New Zealand Convicts Human Trafficker

September 16, 2016 New Zealand Finance

????.jpgFor the first time ever New Zealand has convicted a person for human trafficking.

On September 15th New Zealand saw the first conviction handed out for the charge of human trafficking.

A Papatoetoe man, Foraz Ali, was convicted of trafficking 15 Fijian nationals to New Zealand to subject them to work for minimal pay and under poor conditions.

Each of the victims was told by Foraz Ali that for a fee of NZD 4 000 they would receive employment in New Zealand paying as much as NZD 900 per week.

However, upon arrival into the country, the workers found that they would ultimately be paid only NZD 100 per week.

Further, the workers were not granted any valid work visas, and, instead, were granted 1 month visitor visas.

Foraz Ali is scheduled to be sentenced in October.

In New Zealand the charge ...

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Tourist Numbers Up in July

September 14, 2016 New Zealand Finance

The number of guest nights seen in New Zealand in July has risen compared to last year, but fallen if the number is seasonally adjusted.

New information released earlier this week by Statistics New Zealand indicates that holiday makers in New Zealand are staying for longer periods.

Over the course of July 2016, the number of guest nights among international visitors rose by 15.8 percent compared to the same month in 2015.

Similarly, the number of domestic guest nights over the course of July 2016 rose by 2.0 percent compared to the same month in the previous year.

The increase in tourist numbers was felt more keenly in the North Island where the total guest nights increased by 7.4 percent, while the rise was only 6.0 percent in the South Island.

However, despite the increases, the seas...

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