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Cullen refuses to confirm super rates

Bill English MP
National Party Finance Spokesman

10 October 2008

Cullen refuses to confirm super rates

National Party Finance spokesman Bill English says older New Zealanders will be disappointed that Michael Cullen has today failed to rule out cuts to superannuation under Labour.

“In this week’s pre-election opening of the books, Labour's numbers were calculated on the basis of super payments dropping back to 65% of the after-tax average wage.

“Dr Cullen needs to confirm or reject this as Labour’s policy.”

“Why has Labour been so quiet about this?  Why isn’t Dr Cullen explaining to superannuitants that he plans to cut their super?

“Superannuation payments will be higher with National through our commitment to retain the floor for super at 66%, and the effect of tax cuts on the after-tax average wage, which is used to calculate superannuation rates.

“We'll also let those on the non-qualified partner rate earn 25% more before super payments are affected and National will retain all the superannuation entitlements and eligibility rules that our senior citizens currently enjoy.

“It’s time for Dr Cullen to come clean”

Ends

       

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