Updated

‘Gold ticket’ visa adviser soothes investor jitters after 20pc share plunge

Michael ReadEconomics correspondent

Sep 12, 2022 – 3.22pm

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MA Financial has reassured investors the likely cancellation of the government’s fraud-prone “golden ticket” visa will not materially affect its bottom line after its shares plunged 20 per cent, prompting it to enter a trading halt.

On Sunday, Home Affairs Minister Clare O’Neil said the $5 million Significant Investor Visa (SIV) scheme was a drain on the federal budget, setting the scene for the visa to either be axed or remade as part of the federal government’s review into the immigration system.

Michael Read is the Financial Review's economics correspondent, reporting from the federal press gallery at Parliament House. He was previously an economist at the Reserve Bank of Australia and at UBS.