Parliament

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

 

Monster scheme needs proper testing

Bill English

National Finance Spokesperson

Tuesday 10 October 2000

Monster scheme needs proper testing

Michael Cullen's super scheme is a monster which New Zealanders need to assess carefully before deciding it's the solution to their retirement worries National Finance spokesperson Bill English said today.

"The scheme poses more questions than it answers. For starters, I find it hard to believe that this Government, or any future governments, will generate all the surpluses needed to feed this monster.

"Without regular surpluses, the fund will never build up enough to give the baby boomers security.

"As we suspected, its implications are so vast that it must now be put to a fully independent panel for assessment.

"If Dr Cullen believes the scheme is robust, he should have nothing to fear from that.

"There are heaps of other questions, such as how the fund would be managed

"The best way to try to answer all the questions is to assemble an outside panel representing the wider community as well as representatives of political parties and ask the panel to look at the many unanswered questions surrounding the scheme.

"It's not good enough to put up a scheme that a couple of parties have cooked up without consulting other parties. Dr Cullen says he wants certainty and stability. An outside panel is the only way to ensure that.

"A select committee of politicians, dominated by Government MPs, is not a sufficiently robust forum to test such an important idea as the long-term future of superannuation. There must be wider community involvement in the decision.

"All politicians face a challenge to respond properly to the community's demand that we stop playing politics with superannuation. An independent panel is the best way we can do that," Mr English said.

Ends


© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On NZ’s Complicity In Western Sahara

If David Parker really wants to hone his crisis-managing chops on an international trade dispute that New Zealand has been making worse for years, he maybe should be turning his attention to the Western Sahara.

Some background: two NZ companies called Ravensdown and Ballance Agri-Nutrients appear to be the only independent firms in the world still willing to import phosphate from the disputed territory of the Western Sahara... More>>

 
 

Gordon Campbell: On Malaysia Exposing Our Dodgy Policies On China

Last week, we all owed a vote of thanks to Malaysian PM Mahathir Mohamad for breaking with protocol during his bilateral with Jacinda Ardern. Reportedly, Mahathir used the photo opportunity phase of the meeting to launch into matters of genuine substance. More>>

ALSO:

Withdrawls After Police Uniform Ban: Auckland Pride Remains Committed

The Auckland Pride Board remains committed to creating a space for our rainbow communities to feel safe celebrating their gender and sexual identity, despite some institutions pulling out from the Parade in recent days. More>>

ALSO:

South Korea: State Visit By Korean President Moon Jae-In

The President of the Republic of Korea Moon Jae-in will visit New Zealand from 2 to 4 December... “I am very much looking forward to welcoming President Moon to New Zealand,” said Jacinda Ardern. More>>

Health: Changes To Drinking Water Standards

David Clark said many of the changes he is making, which will take effect on 1 March 2019, are clarifications or corrections, “but there are two changes which will significantly improve the ability to test and respond to the presence of harmful bacteria such as E.coli”. More>>

ALSO:

IPCA: Police Detention "Unlawful But Reasonable"

The Independent Police Conduct Authority has found that while Police acted unlawfully in October 2017 when they detained a Queenstown man for a mental health assessment, their actions were reasonable in the circumstances. More>>

ALSO:

Joint Statement: Chile President's NZ Visit

At the invitation of the Right Honourable Jacinda Ardern, Prime Minister of New Zealand, His Excellency the President of the Republic of Chile, Sebastián Piñera, undertook a State Visit to New Zealand on 19 November 2018... More>>

ALSO:

Climate Change: Top Academics Call On Government To Take Action

One hundred and fifty academics and researchers from around Aotearoa, including Dame Anne Salmond, Emeriti Professors and several Fellows of the Royal Society, have signed a strongly-worded open letter to the Government demanding bold and urgent action to tackle climate change. More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels