7. Question No. 7—ImmigrationDr JAMES McDOWALL (ACT) to the Minister of ImmigrationQuestion No. 7—Immigration7. Dr JAMES McDOWALL (ACT) to the Minister of Immigration: What is the total investment value of all Investor 1 and 2 applications that are currently with Immigration New Zealand if any and how does that figure compare to the total unweighted investment value of Active Investor Plus visa applications?Hon RACHEL BROOKING (Associate Minister of Immigration) on behalf of the Minister of Immigration: Thank you Mr Speaker. The Investor 1 and 2 application regimes have been replaced by the Active Investor Plus Visa. The previous scheme was successful in attracting high volumes of funds. However they resulted often in passive investment in shares and bonds rather than directly into New Zealand companies which provided only a limited economic benefit to New Zealand. This new Active Investor Plus Visa incentivises applicants to invest more directly into New Zealand businesses providing the opportunity for investors to connect with them and access global knowledge networks capitals and markets. To answer the member's question the new Active Investor Plus Visa has had 30 applications since its launch on 19 September 2022 with three now approved and more approved in principle. The estimated unweighted value of the 27 applications currently being processed is $405 million. Immigration New Zealand currently has 163 Investor 1 and 355 Investor 2 applications being processed with a total estimated proposed value of $2.695 billion. In the first year of the Investor 1 policy which was 2009 there were only five applications; after two years there were only 19. Active Investor Plus applications since September 2022 are 30 in total.Dr James McDowall: Is he aware that under Labour over $1.5 billion worth of investment has been withdrawn by people who gave up waiting for Immigration New Zealand to process their Investor 1 and 2 applications and if so what work if any is being done to follow up on those people to try to get them back under the new regime?Hon RACHEL BROOKING: On behalf of the Minister the point of the change to the active investment category is to get more relationships with New Zealand businesses to help the economy.SPEAKER: I'll ask the member to ask the question again. I don't think it was addressed particularly the first part—if you want to ask it again.Dr James McDowall: Thank you Mr Speaker. It read: is he aware that under Labour over $1.5 billion worth of investment has been withdrawn by people who gave up waiting for Immigration New Zealand to process their Investor 1 and 2 applications and if so what work if any is being done to follow up on those people to try to get them back under the new regime?Hon RACHEL BROOKING: To the first part of the question I'm not aware of that number.Dr James McDowall: Does he agree with his predecessor's response to me during question time on 29 March that the Active Investor Plus Visa will direct investment into areas that will actually deliver jobs"? and if so how many jobs have actually been created by the three applications approved since the visa was launched in September last year?Hon RACHEL BROOKING: On behalf of the Minister to the first part of the question yes."