NZ finance minister knocks CB migration plans

Michael Cullen, New Zealand's finance minister, criticised the Reserve Bank of New Zealand's proposal to limit immigration in order to curb rising house prices in parliament today.

Cullen said on Tuesday in parliament: "I'm hesitant to disagree with the Reserve Bank, but on this occasion I do."

Cullen said that he disagreed with Bollard's proposal because it was "extremely difficult" to stop migration and because limiting it would lead to a labour and skill supply shortage, which would lead t