Media Release
Thursday, March 09, 2000

GREY POWER URGES POLITICIANS “TO LET THE PEOPLE DECIDE”

Grey Power welcomes Dr Cullen’s first “BUDGET POLICY STATEMENT”.
And agrees with the suggestion “THAT THE PEOPLE SHOULD DECIDE” the future of New Zealand Superannuation.

The means of securing the future of New Zealand Superannuation must be settled now by politicians and approved by “THE PEOPLE AT THE BALLOT BOX.”

The history of New Zealand Superannuation policy is such that politicians alone cannot be left to make a final decision on its future.

New Zealand does not need another Todd Task Force nor a PRG, nor the previous governments “Task Force 2000”

What is needed is a detailed policy agreed by a majority of the parliament.
“Endorsed by a Binding Referendum.”

This policy must contain a “Threshold clause” requiring a seventy five percent majority of the members of parliament and a further binding referendum before any future modification.

Although Grey Power supported the defunct Party Accord on NZS our organization feels that the way ahead.

 Is to fund NZS from a Dedicated Fund, and could live with a general pool built up from government surpluses bolstered with input from general taxation, the level of funding to be a % of income tax take.

 Every New Zealand Resident who meets the qualifying criteria, should as of right be entitled to a universal state funded pension that enables them to live in dignity and continue to participate in their community’s.

To those who argue (Federated Farmers, The Manufacturers Association) that it would be better to use the money to retire debt we would remind them that no one is immune from farm closure, factory shut down or losing their job. Above all, everyone gets old and needs security in their old age.

Grey Power asks how many Kiwis can save for their retirement?

Dr Cullen’s Government has set out clearly in the BPS the policies needed to achieve universal Superannuation now and for the generations to come.

 “Running operating surpluses so that revenue exceeds expenses on average to enable ongoing contributions to pre-fund future New Zealand Superannuation (NZS) costs”.

 “Keeping net Crown debt below 20% of Gross Domestic Product (GDP), on average”.

 “Accumulating financial assets to assist with the funding of future NZS costs.”

The political reality of MMP means that proposed policy must meet the compromise of various value bases. Once the final form of The Policy on NZS is agreed to it must be put to the people in a binding referendum.

Grey Power is confident the Government has set the scene for sustainable NZS for all generations.

Don Robertson
President
Grey Power New Zealand
06 3550291

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