Parliament

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

 

Key threatens future of universal NZ Super

Hon Dr Michael Cullen
Deputy Prime Minister
Minister of Finance

16 October 2008 Media Statement
Key threatens future of universal New Zealand Super


Finance Minister Michael Cullen says the future of New Zealand Superannuation is at risk now that John Key has announced National's policy which would permit politicians to direct the New Zealand Superannuation Fund.

"Over the last nine years the Labour government has built a strong, sustainable base for New Zealand Superannuation. The NZ Superannuation Fund is the effective guarantee of an adequate level of New Zealand Superannuation for future retirees.

"On top of that, KiwiSaver is providing the opportunity for an ever increasing number of
New Zealanders to get into worthwhile private saving schemes to enhance their standard of living in retirement.

"Mr Key is prepared to gamble all of that in his quest for power on 8 November.

"Mr Key has said he did not hold strong views prior to entering Parliament. However, people that actually lived through the last quarter of last century, when superannuation was kicked around as a political football, fully understand what is at stake in this debate.

"Last week, National proposed to savage KiwiSaver. This week National proposes to raid the New Zealand Superannuation Fund. This is a very dangerous precedent and I believe that National understands this, but announced its policy nonetheless.

"Encouraging savings is very important for New Zealanders. It is important that senior politicians send a clear signal that they are serious about our savings future.

"We know this latest move by John Key is pure political opportunism because National has opposed every significant investment the Labour-led government has made in New Zealand.

"The National Party opposed Kiwibank, KiwiRail, they would slash KiwiSaver by at least half and they are now in breach of the Superannuation Accord signed by Labour and National, what will be next?" Dr Cullen asked.


ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Not Easy: Gordon Campbell On The Greens’ Ongoing Problems

Hard to treat the Greens’ belated decision to stand a candidate in Ohariu as being anything other than a desperation move, by a party whose own leadership is evidently concerned about its chances of survival...

A few months ago, the Greens felt able to forego that role in Ohariu in order to help a beleaguered Labour Party get its candidate Greg O’Connor across the line, and knock Peter Dunne out of the parliamentary frame. More>>

 

Closing The Gap: Ardern Rules Out Income Tax Rise

After earlier commitments by Jacinda Ardern to do something about inequality and poverty, this new position on income tax seems an about face. To do something significant about inequality requires increases in income for those at the bottom and decreases for those at the top... More>>

ALSO:

Gordon Campbell: On DHB Deficits And Free Trade

Currently the world is looking on aghast at the Trump administration’s plans to slash Obamacare, mainly in order to finance massive tax changes that will deliver most of their gains to the wealthy. Lives will be lost in the trade-off. Millions of Americans stand to lose access to the healthcare they need... More>>

Greens' Response: Slum-Like Rentals Exposed In Renting Review

“...The grim findings of the review are a wakeup call about the true state of rentals in this country. Too many renters are festering in slum-like conditions under the thumb of landlords who have largely unchecked powers and ignore tenants’ complaints when it suits them.” More>>

ALSO:

Gordon Campbell: On The Life And Times Of Peter Dunne

The unkind might talk of sinking ships, others could be more reminded of a loaded revolver left on the desk by his Cabinet colleagues as they closed the door behind them, now that the polls in Ohariu had confirmed he was no longer of much use to National. More>>

ALSO:

Gordon Campbell: On Labour’s Campaign Launch

One of the key motifs of Ardern’s speech was her repeated use of the phrase – “Now, what?” Cleverly, that looks like being Labour’s response to National’s ‘steady as it goes’ warning against not putting the economic ‘gains’ at risk. More>>

ALSO:

Lyndon Hood: Social Welfare, Explained

Speaking as someone who has seen better times and nowadays mostly operates by being really annoying and humiliating to deal with, I have some fellow feeling with the current system, so I’ll take this chance to set a few things straight.. More>>

ALSO:

 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election