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

 


Negative household savings shows need for change


Negative household savings shows need for change

The revelation that Kiwi households are once again spending more than they earn demonstrates the need for universal KiwiSaver to bolster savings, says Labour Finance spokesperson David Parker.

“Statistics New Zealand’s National Accounts for the Year ending March 2013 shows that household savings are in the red by almost $1 billion.

“Internationally, New Zealand can’t afford to spend more than it earns. Over the long term that means we need to sell assets or borrow even more to fund the shortfall. Right now that shortfall is around $9 billion a year.

“We need to boost our savings culture, sadly National won’t address this issue.

“The best way to increase household savings is to make KiwiSaver universal. That will not only increase savings but it will also create a deeper investment pool for Kiwi businesses.

“Labour’s capital gains tax will ensure that investment is directed towards productive exporting businesses that will help boost our earnings overseas,” David Parker says.

ends

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Gordon Campbell: On The Shewan Inquiry Into Our Tax Haven Rules

Like the political equivalent of lithium, Prime Minister John Key is routinely administered to dull any politically dangerous mood swings amidst the general public... More>>

ALSO:

Law Commission: Review Of Search And Surveillance Act Begins

“For example, the Act was drafted before cloud-based storage of data was commonplace. In the light of these and other developments, the Commission will be examining whether the investigative powers in the Act are sufficient for law enforcement purposes. We will also consider whether the safeguards that surround those processes are adequate.” More>>

ALSO:

Houses, Campers And Cops: LGNZ Media Briefing

At their quarterly media briefing today Local Government New Zealand addressed areas where local authorities are feeling pressure and outlined their approach for the upcoming local body elections in September-October. More>>

ALSO:

17 Year Sentences In Baby Moko Case: Attorney General On Plea Bargain

“The Crown’s decisions in this case, including the decision to accept the manslaughter pleas, were motivated by the need to secure convictions for this horrendous killing and to avoid the significant risk that either of the defendants could escape such a conviction because of evidential issues.” More>>

ALSO:

As Govt Cuts Lobby Anti-Smoking Group Funds: On The Nation - Plain Packaging Debate

Imperial Tobacco leaves open possibility of law suit against New Zealand government if plain packaging is introduced, as planned. Says it’s a “last resort” but “of course we will defend the right to use our brands”. More>>

ALSO:

No Rail For New Harbour Crossing: National Giving Up On Rail In Auckland

The National Government’s decision to scrap two planned rail lines in Auckland shows it is giving up on a city-wide rail network in Auckland, and on thousands of commuters who sit in traffic jams every single day, the Green Party said today. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news