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Budget a lost opportunity - Grey Power

21 May 2015

Budget a lost opportunity - Grey Power

Grey Power Federation National President Terry King has labelled the Government’s budget as a lost opportunity.

He said there was little in the Government’s seventh budget which addressed some of the serious issues face by retired New Zealanders.

Mr King said the only positive point was the $98million for elective surgery and $320million for District Health Boards over the next three years.
“While we welcome this budget allocation, we still have a growing population of elderly people and a growing list of available remedies for the conditions suffered by them, and that needs to be taken into account as well.”

Mr King said he was deeply disappointed that superannuation had again become a political football with critical comment from the ACT party and Labour opposition.

Mr King said it was misleading to suggest national superannuation was unaffordable or that the age of entitlement should be increased beyond 65 years just because payments would exceed $1 billion in three years time. “ The New Zealand Superannuation Fund is now worth almost $30 billion and growing and that is in spite of the Government halting contributions from 2009.”

He said thousands of superannuitants on a fixed income were struggling to exist with increases in food costs, electricity, rates, household maintenance. New Zealand has had a low wage economy for almost forty years and there is growing inequality between rich and poor, and that is a key issue which this budget fails to address, he said.

Mr King said it was important to understand that national superannuation was not a benefit, but an entitlement which most recipients have paid into for 50 years of their working lives. It was theirs by right, not by privilege or charity.

ends

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