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Reward Kiwis Who Save, Don’t Hit Them with Taxes

Rt Hon Winston Peters
New Zealand First Leader

30 July 2014

Reward Kiwis Who Save, Don’t Hit Them with Taxes

New Zealand First welcomes the campaign to cut high taxes on New Zealand’s long-term savings.

“New Zealand First has long recognised the excessive taxation facing savers - that is why we have had a longstanding policy commitment to ensure earnings from approved savings schemes will carry a tax advantage,” says Leader Rt Hon Winston Peters.

“In addition, New Zealand First has KiwiFund, an improvement on existing KiwiSaver options that provides low fees and a capital guarantee. Investment in the fund will primarily be made in New Zealand assets and infrastructure to create jobs and lift the economy.

“New Zealand First believes Kiwis should be rewarded for saving, not penalised.

“Many Kiwis work hard, deny themselves trips away and the finer things in life so they can put money in their savings account. They deserve a fair go.

“New Zealand First’s policy is to provide real incentives to save not to pour more fees into the pockets of the financial services sector,’ says Mr Peters.

ENDS

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