Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 


Labour Corrupt the Democratic Process

28 July 2005

Labour Corrupt the Democratic Process

Labour's online Student Loan calculator is lying about the amount of student interest Labour's new student loan policy will save students. The online calculator is over-inflating interest, making student loan interest and repayment times look worse than they in fact are.

David Farrar blogged about this today on kiwiblog so the Locke Foundation put it to the test. A quick comparison with non-political online calculators with the same loan values entered shows that both repayment time and the amount of interest currently applicable to student loans is significantly less than Labour's online Student Loan calculator says it is.

The Locke foundation tested Labour's online student loan calculator against the other online student loan calculators and came to the same conclusion as Bill English did that Labour's calculator is considerably exaggerated on the side of making student loan interest and repayment time look worse than it is.

For example compare Labour's student loan calculator with the student loan calculator at sorted.org.nz. We used the amount of $15,000 as the loan amount, the expected future income as $30,000 with a 3% salary growth.

Labour's online calculator said it would take 15 yrs, 3 months to pay off the loan. Sorted's online calculator said it would take 13 yrs, 4 months to pay off the loan.

Labour's online calculator said the interest amount would be $10,939 Sorted's online calculator said the interest amount would be $7,763

Not only have Labour tried to buy the student vote, they have deceived in order to get it.

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

 
 
 
 
 
 
 
 
 
Politics
Search Scoop  
 
 
Powered by Vodafone
NZ independent news