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

 


33% super rise shows Labour prudent to raise age

David
PARKER
Spokesperson for Finance

19 December 2012 MEDIA STATEMENT
33% super rise shows Labour prudent to raise age

The cost of New Zealand superannuation is forecast to rise by 33% in the next four years, showing the urgent need for the Government to commit to raising the retirement age, says Labour’s Finance spokesperson David Parker.

"The cost of superannuation is forecast increase by an astonishing 33% in four years. By contrast, education spending increases by 7% and health by 3% over the same period".

“John Key seems to believe he can keep his head in the sand about the huge increase in super costs and hope a future government will deal with it. But these latest forecasts emphasise that this is an issue for right now, which is having serious fiscal consequences for the budget and other essential services.

“In 2016/17 the cost of superannuation will be more than the entire education budget. It is simply wrong to spend more on superannuation than education. National is pitting the interests of our older citizens against our young.

“Labour’s policy to increase the retirement age to 67 (with a phase-in period and transitional support for those who cannot work past 65 in their normal job) is a prudent and fair way to address the issue. Polls show that most New Zealanders support raising the age. It’s time for John Key to listen.

“Bill English is as blind to this issue as John Key. He has said that ‘growth-orientated policies are going to give us the capacity to meet that demand’. But the increase in super costs is over 10 times the forecast growth rate. The latest downward revisions of our growth rate show growth peaking at less than 3% and declining towards 2%, and even then much of it comes from the post-earthquake rebuild in Christchurch.

“Labour is fiscally responsible. We have foreseen this important issue and have taken proactive steps to ensure superannuation is sustainable and remains in place.


“Our policy not only secures superannuation, but education for younger new Zealanders, and health services for all.

“It's time New Zealand had a truly fiscally responsible government.”

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Parliament Today:

The Kids: OECD Report Shows Huge Impact Of Poverty On Education

A new report from the OECD has again highlighted the negative effects of poverty, showing that disadvantaged children in New Zealand are more than six times more likely to underachieve in maths than children from wealthier homes. More>>

ALSO:

Pacific: NZ Pledges $500,000 To Help Address Zika

“With the Zika virus now confirmed in a number of Pacific countries, New Zealand is committed to helping limit the impact and spread of the virus in the region,” says Mr McCully. “New Zealand will provide $250,000 as a contribution to the WHO to implement the Pacific Zika Action Plan, and a further $250,000 to enable countries in the region to respond rapidly if required." More>>

ALSO:

Labour: Police Commissioner 'Doesn’t Get Force Needs'

The Police Commissioner has let down the public and his own force by insisting the police have what they need despite it taking a year to solve a burglary and overwhelming number of officers saying they are under-resourced, says Labour’s Police spokesman Stuart Nash. More>>

ALSO:

Gordon Campbell: On The US Pressure To Expand Our Role In Iraq

Foreign news services are being more forthcoming about what the “next 12 months” will entail – essentially, the defence ministers will be under US pressure to increase their “training” role preparatory to an assault on the city of Mosul in northern Iraq. More>>

ALSO:

Parliament Restarts: Prime Minister’s Statement

Our policy agenda and legislative programme will reflect the Government’s four priorities: • to responsibly manage the Government’s finances • to build a more competitive and productive economy • to deliver better public services to New Zealanders, an • to support the rebuilding of Christchurch. More>>

ALSO:

NZEI Survey Report: Special Needs Students Missing Out

The survey revealed that around 16 percent of students were on schools’ special needs registers, but nearly 90 percent of schools’ special needs coordinators did not believe there was adequate support for students and their learning... More>>

ALSO:

Interim Report: Waitangi Tribunal On Ture Whenua Legislation

Labour on Proposed changes to Maori land rules: “To have Treaty Negotiations Minister Chris Finlayson dismiss findings as ‘bizarre’ is totally disingenuous and disrespectful. What’s bizarre is Maori Development Minister Te Ururoa Flavell stubbornly pushing through this Bill before the Waitangi Tribunal has even completed its report..." More>>

ALSO:

Spy Update: Appointment Of GCSB Acting Director

GCSB Chief Legal Advisor Lisa Fong will become the Acting Director of the Government Communications Security Bureau (GCSB) from 15 February 2016, Minister Responsible for the GCSB Christopher Finlayson announced today. More>>

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news