Parliament

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

 

Cullen Fudges Over Super Fund

"Michael Cullen unsuccessfully tried fudging the issue of growing Government debt and borrowings due to contributions needed for his Super Fund when appearing before today's Finance and Expenditure Select Committee," says National Finance spokesman David Carter.

Mr Carter says the Finance Minister attempted to brush off queries over the Super Fund and refused to admit that its contributions help account for the massive $10.6 billion in required borrowings or are a significant factor in the $6.6 billion gross debt increase over the next five years.

"However, in subsequent questioning, Treasury head Allan Bollard contradicted Dr Cullen, conceding it was "simple arithmetic" that removing the New Zealand Superannuation Fund would reduce financing requirements from $10.6 billion to $2.7 billion."

David Carter says this is clearly outlined on page 53 of the Budget Policy Statement 2002 and the December Economic and Fiscal Update 2001.

"When will Dr Cullen accept what his officials, Treasury and the public already know - that he is borrowing to finance his Super Fund," Mr Carter concluded.

Ends


© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Werewolf: What Does Winston Peters Want His Legacy To Be?

A lot of people in New Zealand seem to resent Winston Peters and the power that he appears to have. “Appears” being the operative word. In reality, Peters will have power only up to the point that he uses it.

By next week, he’ll have become just another junior player in an MMP governing arrangement, battling to hold onto the gains he was promised. More>>

 

Rising Toll: Road Safety Needs To Be A Higher Priority

Official advice released to the Green Party under the Official Information Act shows that the previous National Government dismissed an option to make road safety its most important transport priority after being told the road toll was rising. More>>

ALSO:

Wellington.Scoop: Arrests At Blockade Of "Weapons Expo"

“We encourage people in Wellington to get down to the Westpac Stadium now for a day of awesome peace action. There will be plenty of food, music and activities to keep us sustained through the day.” More>>

ALSO:

Rorschach Restructuring: PSA Taking Inland Revenue To Court Over Psychometrics

The Public Service Association will be seeing Inland Revenue in Employment Court over its intention to psychometrically test employees reapplying for their roles at the department as part of its controversial Business Transformation restructuring plan. More>>

ALSO:

Nuclear Disarmament: Nobel Peace Prize 2017 Awarded To ICAN

Congratulations from iCAN Aotearoa New Zealand to international iCAN, the other iCAN national campaigns and partner organisations, and the countless organisations and individuals who have worked so hard for a nuclear weapons-free world since 1945. More>>

ALSO:

Expenses: Waikato DHB CEO Resigns

An independent inquiry has identified that Dr Murray had spent more than the agreed $25K allocated for relocation costs, and other unauthorized expenses involving potential financial breaches of the chief executive’s obligations. More>>

ALSO:

Wellington.Scoop: Sad About The Trolley Buses?

The Regional Council’s MetLink is today spending money to tell us that it really loves Wellington’s trolley buses, even though they’re all being taken off our roads by the end of this month. More>>

ALSO:

Post-Election: Preliminary Coalition Talks Begin

New Zealand First will hold post-election preliminary discussions in Wellington with the National Party tomorrow morning and the Labour Party tomorrow afternoon. More>>

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election