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

 


Labour’s Reserve Bank Upgrade will help low-income Kiwis

David Parker
Spokesperson for Finance

30 April 2014

Labour’s Reserve Bank Upgrade will help low-income Kiwis

Low income New Zealanders will benefit from Labour’s Reserve Bank changes and wider Economic Upgrade through higher wages, lower interest rates on credit cards and loans, and lower rents, says Labour’s Finance spokesperson David Parker.

“Labour has always supported low-income Kiwis. Those families will be better off under Labour’s Economic Upgrade that includes the Reserve Bank Upgrade announced yesterday.

“Those changes will lead to lower interest rates. That will mean lower interest on credit cards and hire purchases, as well as other payments such as car finance.

“Universal KiwiSaver will be introduced gradually while at the same time wages will increase, ensuring low-income Kiwis are better off.

“When Labour makes KiwiSaver universal it will still only apply to those in paid work. There will be no savings requirement for those on a benefit so their income will not be affected.

“The changes will help our exporters by tackling our overvalued dollar, enabling those companies to create more and better jobs.

“Australia has $1.5 trillion in their universal workplace savings. We are already 25 years behind them and playing catch-up. Universal KiwiSaver and the new VSR mechanism will mean everyone will be better off because we will not only have a low interest rate and fair exchange rate regime, but everyone will have their own savings nest egg as well, just like our Aussie cousins. What’s wrong with that?

“The idea that National is the protector of those on low wages is laughable. Have they forgotten that everyone in Australia, including the low paid, are on higher wages than in New Zealand?” says David Parker.

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

PARLIAMENT TODAY:

"Gutted" Safety Bill: Time To Listen To Workplace Victims’ Families

Labour has listened to the families of whose loved ones have been killed at work and calls on other political parties to back its proposals to make workplaces safer and prevent unnecessary deaths on the job. More>>

ALSO:

Regulators: Govt To ‘Crowd-Source’ Regulatory Advice

A wide-ranging set of reforms is to be implemented to shake up the way New Zealand government agencies develop, write and implement regulations. More>>

ALSO:

Board Appointments: Some Minister Appoint Less The 3 In 10 Women

“It’s 2015 not 1915: Ministers who appoint less than 3 in 10 women to their boards must do better, they have no excuse but to do better,” said Dr Blue. More>>

Gordon Campbell: On The 1990s Retro Proposals For Our Health System

As we learned yesterday, the reviews propose that the democratically elected representation on DHBs should be reduced, such that community wishes will be able to be over-ridden by political appointees. In today’s revelations, the reviews also propose a return to the destructive competitive health model of the 1990s. More>>

ALSO:

Post-Cab Press Conference: Foreign Buyers Register, TPP And Serco

At a press conference today in Wellington, John Key discussed the foreign buyers register as well as the TPP and Serco. Key was questioned on whether a stamp tax might be used as a tool to deal with foreign buyers. More>>

ALSO:

Lyndon Hood Satire: Serco To Outsource Prison To Public Sector

In response to high-profile failings, multinational omnicorporation Serco will introduce public management in its prison system. Serco's New Zealand manager, speaking on condition of anonymity, has announced plans for managers from the Department of Corrections to run the Mt Eden Correctional Facility. More>>

National Party Conference: Plans To Nudge Immigrants Towards Regions

The Government will introduce a package of immigration measures aimed at improving the spread of workers, skills and investment across New Zealand, Immigration Minister Michael Woodhouse says. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news