Key must come clean over KiwiSaver
John Key has again failed to give any guarantees over Budget 2007's $40 of tax credits to workers and employers who contribute to KiwiSaver.
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John Key has again failed to give any guarantees over Budget 2007's $40 of tax credits to workers and employers who contribute to KiwiSaver. That should worry the thousands of working New Zealanders who want to sign up to KiwiSaver when it launches on 1 July, Finance Minister Michael Cullen warned today.
"Mr Key said quite clearly on Morning Report this morning that National would not give any guarantees over Budget 2007's changes to KiwiSaver. He said it was not 'a hugely pressing issue for New Zealanders.'
"It is. From 1 July thousands of working New Zealanders will want to make long term decisions about their retirement and embrace the opportunity offered by KiwiSaver to secure their retirement dreams. They need an assurance from Mr Key that should National ever form a government it won't meddle with KiwiSaver.
"National must do this as it has very little credibility over superannuation. A National government illegally scrapped the Labour government's scheme in 1975 and a National government, of which Bill English was a Minister, cut the annual adjustment to New Zealand Superannuation to 60 per cent of the average wage.
"And just last week Mr English said the consensus was broken over superannuation, suggesting National would move the goal posts in regard to KiwiSaver and New Zealand Superannuation.
"I note that National isn't even asking a question about KiwiSaver today in Parliament, just the second opportunity for questions after the Budget. That suggests to me Mr Key is ducking for cover and working out how best to swallow this Labour policy as well.
"Perhaps he really is reading the signs. The business community is coming in behind KiwiSaver. The New Zealand Stock Exchange did so last week and this week innovative Waikato company Gallagher Animal Management Systems and our biggest tourism company, Tourism Holdings, voiced support for KiwiSaver.
"The latest ShapeNZ poll of 228 business people shows 68 per cent support for the employer contributions to KiwiSaver.
"KiwiSaver builds on the Labour-led government's progress in restoring certainty to superannuation. It reversed National's cuts and set up the New Zealand Superannuation Fund to pre-fund the future cost of pensions.
"I note ACT suggested in Parliament yesterday that the $12 billion of assets in the fund should be distributed to KiwiSaver accounts. This amounts to inter-generational theft. Perhaps that is really National's savings policy in disguise."
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John Key has again failed to give any guarantees over Budget 2007's $40 of tax credits to workers and employers who contribute to KiwiSaver. That should worry the thousands of working New Zealanders who want to sign up to KiwiSaver when it launches on 1 July, Finance Minister Michael Cullen warned today.
"Mr Key said quite clearly on Morning Report this morning that National would not give any guarantees over Budget 2007's changes to KiwiSaver. He said it was not 'a hugely pressing issue for New Zealanders.'
"It is. From 1 July thousands of working New Zealanders will want to make long term decisions about their retirement and embrace the opportunity offered by KiwiSaver to secure their retirement dreams. They need an assurance from Mr Key that should National ever form a government it won't meddle with KiwiSaver.
"National must do this as it has very little credibility over superannuation. A National government illegally scrapped the Labour government's scheme in 1975 and a National government, of which Bill English was a Minister, cut the annual adjustment to New Zealand Superannuation to 60 per cent of the average wage.
"And just last week Mr English said the consensus was broken over superannuation, suggesting National would move the goal posts in regard to KiwiSaver and New Zealand Superannuation.
"I note that National isn't even asking a question about KiwiSaver today in Parliament, just the second opportunity for questions after the Budget. That suggests to me Mr Key is ducking for cover and working out how best to swallow this Labour policy as well.
"Perhaps he really is reading the signs. The business community is coming in behind KiwiSaver. The New Zealand Stock Exchange did so last week and this week innovative Waikato company Gallagher Animal Management Systems and our biggest tourism company, Tourism Holdings, voiced support for KiwiSaver.
"The latest ShapeNZ poll of 228 business people shows 68 per cent support for the employer contributions to KiwiSaver.
"KiwiSaver builds on the Labour-led government's progress in restoring certainty to superannuation. It reversed National's cuts and set up the New Zealand Superannuation Fund to pre-fund the future cost of pensions.
"I note ACT suggested in Parliament yesterday that the $12 billion of assets in the fund should be distributed to KiwiSaver accounts. This amounts to inter-generational theft. Perhaps that is really National's savings policy in disguise."