National To Offer Tax Incentives For Long-Term Savers

"An incoming National Government will introduce tax incentives to encourage people into longer term savings," says National leader Bill English.

Mr English says the incentives will take the form of an upfront rebate on contributions made to a locked-in savings scheme, which will be subject to a cap.

"This policy is aimed at boosting New Zealanders' long-term savings. National considers that offering tax incentives is the best option to encourage people, particularly young New Zealanders, to save for their retirements.

Mr English says the Labour/Alliance superannuation policy is falling into disarray.

"Michael Cullen's super fund is being increasingly discredited as people become more and more aware of its faults. Meanwhile, Dr Cullen has ruled out the option of tax incentives for long term savings plans."

"National believes in encouraging people to save for themselves - rather than having the Government dictate that it will do it for them."

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