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Labour has super cuts on its books

Bill English MP
National Party Finance Spokesman

16 October 2008

Labour has super cuts on its books

“Labour continues to avoid any commitment to keeping the floor for national superannuation at 66% of the average wage,” says National Party Finance spokesman Bill English.

“The immediate threat to our senior citizens' living standards is Labour’s failure to confirm the 66% floor for super.”

Mr English says Michael Cullen is attempting to scare older New Zealanders without laying out his own plans.

“Heading into an election, Kiwis deserve to be told how much a party's policies will cost. Labour is refusing to reveal any costings for its vague, grab-bag of expensive promises, but it must say one way or the other what it plans to do with superannuation.

“We know that the agreement with NZ First to raise the floor to 66% runs out at the election. We also know Labour didn’t include the higher floor for super in the pre-election update which showed Dr Cullen’s legacy of 10 years of deficits.

“Helen Clark has made the ridiculous statement that Labour will do a mini-Budget after the election.

“Is she telling Greypower meetings they have to wait till after the election to find out if Labour will cut national super?”

Mr English says Helen Clark and Michael Cullen are asking the public to write them a blank cheque

“After years of lecturing everybody else on fiscal discipline, Labour is heading into an election with a series of uncosted, untested, and unclear spending policies.

“If Labour changes its policy and maintains super at 66% of the average after-tax wage, they will have to show where the money is coming from. That spending is not in the budget now.

“They will also have to show how they can afford to pay for more national super, as well universal student allowances, and the other vague, uncosted promises made in the past week.

“Is it more debt? Is it deficits for longer? Is it an axing of Labour’s future tax plan? Is it cutting super as the PREFU shows?

“Helen Clark must come clean.”


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