Young Kiwi professionals leaving for better pay in Australia will benefit New Zealand's economy in the long run, says Finance Minister Bill English.
Speaking in Queenstown yesterday, Mr English said young people may be financially better off taking jobs across the Tasman; but their home, family and the environment would pull them back.
"Young people will make their own decisions. They always have. But there is a narrow range of highly paid jobs there, so a move to Australia will only benefit some young people.
"In New Zealand, initiative is rewarded, you gain responsibility quickly and you have to be a jack of all trades."
He said New Zealand's economy should benefit from people heading to Australia or taking similar opportunities because they could pay off loans quicker and gain "world" experience.
Mr English spoke to about 60 young professionals at the Queenstown Resort College about the economy, recession and the job market.
Mr English said the country's economy would be stretched to its limit in the next decade, but it was still very "competitive" in terms of its export appeal.
"We are that cork bobbling on the edge of the ocean, but we have got good at being that cork bobbling on the edge of the ocean.
"Getting ahead simply won't happen for another 15 years, in my opinion."
He said, for New Zealand, the next 10 years were all about earning from the rest of the world rather than borrowing.
"The world has sent a message loud and clear - no more debt."
The Christchurch earthquake recovery alone would cost New Zealand $20 billion of borrowed money, he said.
Mr English said the way the people of Christchurch had reacted to the disaster had been an "amazing exhibition of resilience" and pointed out New Zealand's financial future was by no means doom and gloom.
