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Winston Peters is doing his sums on his fingers again

Winston Peters is doing his sums on his fingers again

Press release: ACT New Zealand
August 11, 2014. 3:15pm


“If proof were needed that Winston Peters is making policy on the fly his promise that $1000 deposited in a Kiwi Saver account at birth would accumulate over time to pay for a University degree sheets it home,” said Dr Jamie Whyte ACT Party leader today.

“If Mr. Peters had spent ten minutes checking out the Retirement Commission’s web page he would have learnt the best return from the 'Winston’s buy the baby vote scheme' would be 3 percent a year.

"That means by the time recipients are 24 the 'thousand dollar baby bonus' would be worth just $2,000. The whole idea is just a bonus to the fund managers.

"There is no way Winston’s buy the baby vote bonus will pay for university,” said Dr Whyte.

“With current inflation it will probably buy their first beer.”

ENDS

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