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.

ENDS


© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Also, Loan Interest: Productivity Commission On Tertiary Education

Key recommendations include better quality control; making it easier for students to transfer between courses; abolishing University Entrance; enabling tertiary institutions to own and control their assets; making it easier for new providers to enter the system; and facilitating more and faster innovation by tertiary education providers... More>>

ALSO:

Higher Payments: Wellington Regional Council Becomes A Living Wage Employer

Councillor Sue Kedgley said she was delighted that the Wellington Regional Council unanimously adopted her motion to become a Living Wage employer, making it the first regional council in New Zealand to do so. More>>

ALSO:

Scoop Images:
Dame Patsy Reddy Sworn In As Governor-General

This morning Dame Patsy Reddy was sworn in as the New Zealand Realm’s 21st Governor-General. The ceremony began with a pōwhiri to welcome Dame Patsy and her husband Sir David Gascoigne to Parliament. More>>

ALSO:

Ruataniwha: DOC, Hawke's Bay Council Developer Take Supreme Court Appeal

The Department of Conservation and Hawke's Bay Regional Investment Company (HBRIC) are appealing to the Supreme Court over a conservation land swap which the Court of Appeal halted. More>>

ALSO:

With NZ's Marama Davidson: Women’s Flotilla Leaves Sicily – Heading For Gaza

Women representing 13 countries spanning five continents began their journey yesterday on Zaytouna-Oliva to the shores of Gaza, which has been under blockade since 2007. On board are a Nobel Peace Laureate, three parliamentarians, a decorated US diplomat, journalists, an Olympic athlete, and a physician. A list of the women with their background can be found here. More>>

Gordon Campbell: On The Key Style Of Crisis Management

At Monday’s post Cabinet press conference Key was in his finest wide- eyed “Problem? What problem?” mode. No, there wasn’t really a problem that top MPI officials had been at odds with each other over the meaning of the fisheries policy and how that policy should be pursued... More>>

ALSO:

Mt Roskill: Greens Will Not Stand In Likely Post-Goff By-Election

“The Green Party’s priority is changing the Government in 2017, and as part of that we’ve decided that we won’t stand a candidate in the probable Mt Roskill by-election... This decision shows the Memorandum of Understanding between Labour and the Green Party is working." More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news