ACT Welcomes National Focus On Superannuation For The Long-Term

ACT Finance Spokesman MP Rodney Hide said today that it was good news that the National party was addressing the issue of superannuation - not just for this year and next, but for coming generations.

"It is only with an intergenerational focus that the issue of superannuation can be properly addressed. The National party is absolutely correct in its criticisms of Cullen's Big Super Fund. Cullen's Fund is no solution at all. It is just financial smoke and mirrors designed to trick the electorate.

"Since it's very founding, ACT New Zealand has been clear that individual savings are the key. We will look favourably at anything that will help people have more money in their pocket, save for the future and have security in retirement.

"We will be interested in talking with the National Party over their proposals, because there are some fish hooks. It's not clear that tax rebates will help address the doubling of the cost of superannuation over the next generation. Also, tax rebates penalise small businesses who have their savings tied up in their businesses. ACT looks forward to working with any political party prepared to look at solutions to the problem of the number of retired doubling over the next thirty years.

"It is clear that National are doing the work - something that Michael Cullen could have profited from when he was in Opposition," Mr Hide said.

Ends

© Scoop Media