Why Should the Morrison Govt lure HNW from Hong Kong on the Say-So of a Wealth Manager?

Haven’t we had enough of this Hedley and Eslake ‘lot’ who never seem to give up on calling for ever more immigration?  Why?  What is in it for them?

What are the sources of these Hong Kong ‘Millions of dollars in investment’?  How much of which are in fact ‘Black Money’?  Where is the proof of their sources?  How restrictive are Australia’s Visa laws?  It would seem they are anything but! 

Prior to the Pandemic ‘Permanent Residency’ appeared to be a Growth Industry with a large range of Visas facilitating this not only for the Entrepreneurs but for Visa workers which has led to the lowest wages growth for 60 years, high unemployment and underemployment at 19.7% prior to the Pandemic! 

At the same time there were 2.4 Million Visa holders in Australia … many of whom were here on Real Estate tours … and looking to gain permanent residency … so it would appear the cut to permanent migration to 160,000 was of little consequence?

AND it appears this has led to another growth industry for those on the AFR Rich List becoming Richer!

There are more than 200 of them so why do we need to import more?  Why can’t they develop more start-ups? And create jobs for Australians with incomes that generate spending power to boost our economy?

Why not bring back the inter-active digital media development blocked by the Abbott Government?  It has proved to be very profitable overseas … why not here? Invest in R & D … manufacturing … renewables?

Is Hedley ignoring that in Melbourne there is a second wave of Covid?  That the Andrews government proposes to lock down more! 

World-wide the Pandemic has not been deterred!  So how can opening the migration and visa manipulation floodgates be warranted?

Hedley concedes there is a humanitarian aspect … that they should be provided with a safety net, and in the next breath talks about targeting entrepreneurs  … despite COVID-19 … and often the 14 day quarantine has proven inadequate …

Eslake is quoted saying ‘about three quarters of our growth in the last five years has come from population growth’

BUT what Eslake has overlooked is at the cost to State and local governments and the Australian people as revealed in this report from Macro Business!

Search for:

‘A Big Australia means more expensive everything’!

This report reveals that the Federal Government collects some 80% of the tax revenue’.

However, the ancillary costs of the growth in population are shifted to the state and local governments, and households!

With …

-the escalation of house prices

-the increased cost of infrastructure and services

-the balance of trade with the revenue from exports of minerals and agricultural products v. growth of importation of construction materials and consumer goods

-the cost to households of desal plants, toll road tunnels

-state governments sell off public assets to private monopolies to raise the $ for more infrastructure

-increased costs for the incumbents with tolls, user-pays charges etc

.It appears the mineral bonanza comes as a poor second!

Is the high immigration and visa manipulation another verse in the ‘Trickle Down Economy Song Sheet’?

Are the statements from Hedley and Eslake perhaps rooted in a desire to embrace a wider agenda validating a pedagogy of growth … no matter what it costs?

DO they ever consider


-the finite nature of the earth’s resources?

That life for them is really only about trade … is this all we ought to look forward to, and that we will fall into poverty should it not prevail unhindered?

With Hedley it seems we get the same old Mantra that there is always another pot of gold to be had … though how true it is when the numbers are actually small. 

Interestingly, the age-old tactic of alerting us to the possibility we may miss out … be left behind … how could we let this happen? …

Are what they appear to be – crude calls from the sidelines.

What about asking how legitimate is this wealth? 

Are there measures in place to validate it has been sourced from real endeavours in no way associated with the ‘darker sides of life’ in foreign locations?

These bursts of wisdom need to be put to the test.  It is as if we all need to be convinced it is okay to have people knocking at our door because they have fat wallets and deep pockets … that somehow it is all legitimate … no harm … no costs are generated by boundless population growth while at the same time anyone who dares to critique these so-called truisms are quickly labelled as xenophobic or racist. 

Is this designed to shut down debate smartly?  Read more!

Gov should entice HK Investors to move to Australia says Wealth Manager

CAAN Photo: 188C Significant Investor Visa