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


Kiwisaver Kick Start for All New Zealand Babies

Kiwisaver Kick Start for All New Zealand Babies

All babies born in New Zealand would automatically be registered for a KiwiSaver account and receive a $1000 kick start from the government, New Zealand First Leader Rt Hon Winston Peters announced today.

The announcement was made at New Zealand First’s 2014 Election Campaign Launch in Auckland.

“Thousands of young New Zealanders have used KiwiSaver to help them save to buy their first homes, it’s common sense that it helps to pay for their tertiary education too” says Mr Peters.

“The money in their KiwiSaver account will only be able to used for tertiary education fees. If the young person does not go on to further study, the money will stay in their account to go towards their first home and retirement.

“Over their childhood and teenage years with contributions from family, the Christmas and birthday ‘$20 gifts’ from the grandparents, and the afterschool and holiday jobs, most people will see a sizable amount of savings after 18 years.

“Parents and family can contribute knowing that it will go towards tertiary education or a home - a basic need. It’ll change parental savings culture as well. It also teaches a child good savings habits from early on.

“The savings for the government will be substantial, not having to loan as much money to students for their tertiary education fees.

“Some will say this won’t have an affect for many years. They’re wrong of course, because we are setting out to change New Zealand to a savings culture.

“Our conservative estimates put the cost of this policy at around $60 million a year – more than what the Novopay disaster has already cost us.

“That’s $60 million reinvested back into our economy, our businesses and our people.

“By these means can we directly help so many of our young whilst at the same time further build the funds to free ourselves from the dependence on foreign money and foreign savings,” says Mr Peters.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines



Relevant Consents Gained: Government Unveils RMA Reform Package

The government has formally hauled down the flag on its attempts to alter the balance of environmental and economic priorities in the Resource Management Act, unveiling a 180-page Resource Legislation Amendment Bill containing reforms that have been largely endorsed by most political parties. More>>


Closing Schools And Such: Interim Redcliffs Decision Announced

“While the school’s board has argued that circumstances that could give rise to potential disruption are extremely unlikely, advice from technical experts has shown these concerns cannot be ruled out." More>>


Jane Kelsey: High Court Can’t Make Groser Provide TPPA Information Faster

‘This week we went back to court to challenge Trade Minister Groser’s stalling tactics over the release of information on the Trans-Pacific Partnership Agreement negotiations, following a High Court order that he reconsider the Official Information Act request I made last January’, said University of Auckland law professor Jane Kelsey, first applicant in the case. More>>

Werewolf 58: No Climate For Change

The last time the global community tried to take collective action on climate change the world’s leaders finally came to agree that every not-too-onerous effort should be made to hold global warming to 2°C above the pre-industrial average. At Paris, all 150 participant countries nations will have put forward their pledges... On the information available, New Zealand's is the second weakest contribution of any nation in the developed world. More>>


Lambton Quay Shutdown: Object Was Made To Look Like Bomb

Police cordoned off part of Lambton Quay Wednesday afternoon, saying that a suspicious package had been found. Buildings were evacuated and buses were detoured. The army’s explosive ordnance disposal unit was brought to the Quay. More>>


Public Sector Still Shrinking: Record Low Number Of 'Backroom Bureaucrats'

Ongoing restraint in the public sector and a focus on better frontline services has seen a further reduction in the number of core Government employees, State Services Minister Paula Bennett says. More>>


Disobeying The Law: Police Censorship Of Crime Research “An Outrage”

The Green Party is calling on Police Minister Michael Woodhouse to ensure Police scrap controversial contracts that place onerous restrictions on academic researchers’ access to Police data, the Green Party says. More>>


Get More From Scoop



Search Scoop  
Powered by Vodafone
NZ independent news