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

 

PARLIAMENT TODAY:

3-Year Transport Plan: No Plans On Six Northland-Election Bridges

The Transport Authority’s decision to fund only four of the 10 bridges promised in National’s shameless Northland by-election bribe is a huge embarrassment for Transport Minister Simon Bridges, Labour’s Transport spokesperson Phil Twyford says. More>>

ALSO:

Family Violence: Increasing Reporting But Fewer Resolutions

“We are aware the Police have embarked on a significant programme of change in how they respond to family violence. The data suggests that adequate resourcing including investing in staff training, support and culture change will be required for this to be effective.” More>>

ALSO:

Health: NZ Children Still Suffer Rickets From Lack Of Vitamin D

Vitamin D deficiency continues to cause rickets in young New Zealanders, new University of Otago research has found. The researchers say that their finding suggests that at-risk mothers and children should be better targeted for Vitamin D supplementation. More>>

Also GPs, Housing, Milk: PM Press Conference On The UN Security Council

In a press conference today the Prime Minister discussed the upcoming appointment of New Zealand to chair the UN Security Council. He said they would put pressure Asad in Syria and attempt to “jump start” negotiations between Israel and Palestine. More>>

ALSO:

Housing: State Houses Could Sell To Overseas Groups

Bill English’s admission that he would sell hundreds of New Zealand’s state houses to the Australians is the latest lurch in the Government’s stumbling, half-baked housing policy, Labour’s housing spokesperson Phil Twyford says. More>>

ALSO:

AND:

Gordon Campbell: On Climate Change Protest, And Iraq Training

For sheer style, humour and content fit for purpose, it would be hard to beat the Greenpeace protest at Parliament. The fact that the hanging of functioning solar panels from Parliament Buildings caused such spluttering outrage among fogeys old (David Carter) and young (David Seymour) added a Monty Python level of amusement to the whole event. More>>

ALSO:

Speech: Bill English Explains NZ Government To Australia

Here I am part of a successful government, now into its third term and hopefully with more to come. I want to offer some thoughts tonight about the business of government, from a centre-right perspective. More>>

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news