Bill English National Party Leader

14 March 2002

Huge support for National's savings policy

"National is delighted to see the huge levels of support for tax incentives to encourage long-term savings," says National Party leader Bill English.

Mr English comments come in relation to today's ASB Bank Investor Confidence Survey, which reveals that 88 per cent of New Zealanders are in favour of a tax incentive to encourage people to save.

"It's clear from this survey result - and from other feedback I've had - that National is on to a winner with its policy to introduce tax incentives for saving.

"One of the most pleasing elements of the ASB survey is that 78 per cent of respondents, who are not currently saving for their retirement, say they will if there is a tax incentive to do so.

"It is exactly this group of New Zealanders that National's savings incentive policy is targeted at."

Mr English says this result is more compelling evidence that the current Government has got its superannuation policy all wrong.

"People want to look after themselves and take responsibility for their own futures - not have Helen Clark and Michael Cullen dictate what they should be doing.

"Dr Cullen's ill-conceived super fund is being increasingly discredited and he can't find the money for incentives."

Mr English says the ASB survey result reinforces the fact that the Government has nothing to offer New Zealanders substantive on retirement income.

"I am hugely encouraged by this survey result which shows that large numbers of New Zealanders want to take responsibility for their own futures. I'm looking forward to putting our retirement income policy up against the Government's Cullen Fund to voters later on this year," Mr English concluded.

Ends

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