Nats’ nix is no answer to Labour’s nest egg

National has admitted it has no ambition, no ideas and no hope for low income Kiwis wanting a nest egg in their retirement, Labour Leader David Cunliffe says.

“Finance Minister Bill English revealed all when crying crocodile tears over Labour’s just-released KiwiSaver policy when he said: ‘There’s a lot of people just getting by week-to-week on $5 here or $1 there.’

“He’s right. His Government has presided over an economy in which median wages for many have gone backwards in real terms; nearly half have not had a pay rise in the last year.

“Labour will raise the minimum wage to $15 in its first 100 days and raise it again in 2015.

“We will work towards a Living Wage in the public service and seek to extend that.

“Through our KiwiSaver scheme we will make sure that lower-paid workers – who will be much better off under Labour – benefit from the $1000 government kick-start and annual contribution to help them build up their nest egg.

“We will create jobs through our Economic Upgrade. With research and development tax credits, we will foster the conditions for industry to grow.

“Our capital gains tax will mean a fairer tax system for all.

“We will modernise the economy, future-proof employment and give people a say in their working conditions.

“We will tackle the housing crisis, starting by building 100,000 homes over 10 years. We will make homes in which Kiwi families can live with dignity more affordable.

“Mr English and his Government have clearly given up on the low-waged, but even middle-income New Zealanders are struggling under their visionless ‘business-as-usual’ approach to economic management.

“Universal KiwiSaver is a no-brainer. It’s a bulls-eye in National’s blind spot – the Government has no plan.

“Labour’s KiwiSaver will bolster the economy over the long term and give all Kiwis security in retirement,’’ David Cunliffe says.

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