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Diluted Super Scheme Unacceptable – Peters

New Zealand First has urged Labour to stand up to the Alliance and Greens and establish a tax based, stand alone superannuation scheme similar to that devised by the Kirk Government.

Responding to a new scheme outlined today by the Treasurer, the Leader, Rt Hon Winston Peters, expressed concern that it would not be “personalised” nor funded directly through taxation.

“We have pledged from the outset to support the Treasurer on the crucial issues of establishing a desperately needed savings base for this country and achieving adequate retirement incomes for the elderly.

“The scheme revealed today will not achieve either because Dr Cullen has been forced to pander to the Alliance and the Greens who unfortunately have their heads in the sand over superannuation.

“New Zealand First agrees with Labour’s original policy of a dedicated tax based superannuation fund and urges the Treasurer to forget about proportions of GDP and other compromises.

“Dr Cullen should simply get on with the job and introduce legislation to establish the fund and I will be contacting him to discuss the issue further,” said Mr Peters.

Ends

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