Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

Dr Cullen's super scheme on life-support

Hon Bill English

Opposition Finance Spokesperson

22 March 2000

Dr Cullen's super scheme on life-support

Dr Cullen has signalled the Government's first major back-down on his proposal for a $170 billion superannuation fund, Opposition Finance Spokesperson Bill English said today.

"Dr Cullen's tentative presentation of his scheme to the Finance and Expenditure Select Committee today showed political reality is catching up with Labour.

"The lack of political support for the huge superannuation fund has put the whole thing on life-support.

"Despite Dr Cullen's assertion that he is on schedule it was very clear at the select committee that the swagger has gone.

"The Minister wasn't able to answer basic questions about how the fund would work, what would happen to contributions if the forecast surpluses didn't materialise, and what political support he had.

"Dr Cullen admitted for the first time that the fund was not a 'free lunch', agreeing that the billions of dollars he wants to build up in the fund would come from today's taxpayers. Up until today the Government had tried to create the impression that no-one will pay because the money comes from Government coffers.

"The change the Government is proposing is huge, but hardly anyone knows what it is, and no-one understands the implications.

"New Zealanders want multi-party agreement on superannuation, not single party arrogance. The way Dr Cullen is trying to ram through his proposal invites opposition, and from today's performance it is clear he's meeting opposition."

Ends


© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Principals' Federation:
End Of National Standards

Today the Minister of Education announced that the Government has stopped the controversial National Standards system of assessment and declared them an arbitrary measure which did not raise children's achievement as the previous Government intended.

"This is such a win for all the principals who never believed in national standards and who, for the past decade, have argued for what is morally right for our nation's young people and their learning," said Cormick. More>>

 

RBNZ To RNZB: PM's Press Conference

Prime Minister Jacinda Adern was joined by Minister of Finance Grant Robertson and Minister for Children Tracey Martin to announce the appointment of Adrian Orr as the new Governor of the Reserve Bank and the name change of the Ministry for Vulnerable Children to ‘Oranga Tamariki - Ministry for Children’. More>>

ALSO:

'Taming Globalised Capital': Why Is Labour Supporting Investment Rules In WTO?

‘Today, we learned the new government has added New Zealand’s name to a proposal designed to lead to foreign investment rules in the WTO at this week’s ministerial meeting in Argentina,’ said Auckland University Professor Jane Kelsey. More>>

ALSO:

Gordon Campbell: On The Politics Of Scaring Voters Back Into Line

Fear has always been a useful mobilising tool in politics… yet in 2017, bogeymen of all shapes and sizes seem to have fallen on hard times. For years, the National party had painted itself as being the only reliable defensive bastion against the terrifying prospect of a centre-left government… More>>

ALSO:

Gordon Campbell: On Drinking Water As A Failure Of Political Leadership

It is almost possible to feel sorry for the Health Ministry in their terrible, no good, very bad week... More>>

ALSO:

Gordon Campbell: On Saying ‘Work For The Dole,’ Nicely

As New Zealand First learned the hard way from its two previous periods in government, small parties in MMP coalitions get blamed for the unpopular stuff done by their senior partner in power, but no one remembers the good stuff the junior player brought to the table... More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages