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.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines


Also, Loan Interest: Productivity Commission On Tertiary Education

Key recommendations include better quality control; making it easier for students to transfer between courses; abolishing University Entrance; enabling tertiary institutions to own and control their assets; making it easier for new providers to enter the system; and facilitating more and faster innovation by tertiary education providers... More>>


Higher Payments: Wellington Regional Council Becomes A Living Wage Employer

Councillor Sue Kedgley said she was delighted that the Wellington Regional Council unanimously adopted her motion to become a Living Wage employer, making it the first regional council in New Zealand to do so. More>>


Scoop Images:
Dame Patsy Reddy Sworn In As Governor-General

This morning Dame Patsy Reddy was sworn in as the New Zealand Realm’s 21st Governor-General. The ceremony began with a pōwhiri to welcome Dame Patsy and her husband Sir David Gascoigne to Parliament. More>>


Ruataniwha: DOC, Hawke's Bay Council Developer Take Supreme Court Appeal

The Department of Conservation and Hawke's Bay Regional Investment Company (HBRIC) are appealing to the Supreme Court over a conservation land swap which the Court of Appeal halted. More>>


With NZ's Marama Davidson: Women’s Flotilla Leaves Sicily – Heading For Gaza

Women representing 13 countries spanning five continents began their journey yesterday on Zaytouna-Oliva to the shores of Gaza, which has been under blockade since 2007. On board are a Nobel Peace Laureate, three parliamentarians, a decorated US diplomat, journalists, an Olympic athlete, and a physician. A list of the women with their background can be found here. More>>

Gordon Campbell: On The Key Style Of Crisis Management

At Monday’s post Cabinet press conference Key was in his finest wide- eyed “Problem? What problem?” mode. No, there wasn’t really a problem that top MPI officials had been at odds with each other over the meaning of the fisheries policy and how that policy should be pursued... More>>


Mt Roskill: Greens Will Not Stand In Likely Post-Goff By-Election

“The Green Party’s priority is changing the Government in 2017, and as part of that we’ve decided that we won’t stand a candidate in the probable Mt Roskill by-election... This decision shows the Memorandum of Understanding between Labour and the Green Party is working." More>>


Get More From Scoop



Search Scoop  
Powered by Vodafone
NZ independent news