Gerry Brownlee National Superannuation Spokesperson

2 November 2001

Ad campaign won't hide Super Fund flaws

The Government's million-dollar advertising campaign needs to tell the truth about the Super Fund, says National's Superannuation spokesperson, Gerry Brownlee.

"The Government is borrowing the money to put into the Fund, and then investing billions outside New Zealand. It's little wonder that a hard-hitting independent report out this week concluded that the scheme 'has little to offer on economic grounds' and will prove to be a drag on growth.

"The Government is already having trouble meeting the required contributions to the Super Fund. Serious funding pressure is seeing premature babies and women with cancer being flown to Australia for treatment while the Government scrapes around for the $2 billion it needs each year for the Fund.

"This advertising campaign will need to explain 'who' is going to miss out as Dr Cullen borrows to pay for the $600 million he has put into a Treasury Bank account to pay for this scheme.

"Dr Cullen could save on this flash million-dollar campaign and instead do what National is doing for free - going on the road and telling the truth about the Super Fund," said Gerry Brownlee.

Ends

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Gordon Campbell: On the Sony cyber attack

Given the layers of meta-irony involved, the saga of the Sony cyber attack seemed at the outset more like a snarky European art film than a popcorn entry at the multiplex.

Yet now with (a) President Barack Obama weighing in on the side of artistic freedom and calling for the US to make a ‘proportionate response’quickly followed by (b) North Korea’s entire Internet service going down, and with both these events being followed by (c) Sony deciding to backtrack and release The Interview film that had made it a target for the dastardly North Koreans in the first place, then ay caramba…the whole world will now be watching how this affair pans out. More>>