Scoop has an Ethical Paywall
Work smarter with a Pro licence Learn More

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search


English decisions on Super and ACC short-sighted

4 December 2009 Media Statement

Bill English decisions on Super and ACC continue to be short-sighted

Continuing strong investment performances by the New Zealand Superannuation Fund and ACC prove yet again how short-sighted Government policies are, says Labour Finance spokesperson David Cunliffe.

David Cunliffe said Finance Minister Bill English’s folly in deferring Government contributions to the Super Fund for a decade and in casting doubt on the future viability of ACC was shown in sharp relief by the Treasury’s release today of the Government’s Financial Statements for the four months ended 31 October.

“The financial statements show that both the Super Fund and ACC reported higher-than-forecast investment returns --- $1.3 billion in the case of the Super Fund and $0.6 billion in the case of ACC.

“These gains highlight the flaws in Bill English's repeated attempts to undermine confidence in ACC and the Super Fund.

“The Government’s books would be in far worse shape if it wasn’t for these strong performances, and it is a mystery why Bill English refuses to shift his position, and admit he has got it badly wrong.”

David Cunliffe said Bill English was still preaching the false message that National inherited government books that were in trouble. “Nothing is more wrong. He inherited net debt at zero and gross debt halved.

“Today’s financial statements reinforce the fact that National has no plan to help hard-working Kiwis emerge from the global recession, and, worse than that, his actions in undermining assets like the Super Fund and ACC are actually retarding our recovery.”


Advertisement - scroll to continue reading

Are you getting our free newsletter?

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.

© Scoop Media

Advertisement - scroll to continue reading
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On National Spreading Panic About The Economy

The lure for New Zealand to join the AUKUS military alliance is that membership of only its “second pillar” will still (supposedly) give us access to state of the art military technologies. As top US official Kurt Campbell said during his visit to Wellington a year ago:
...We've been gratified by how many countries want to join with us to work with cutting-edge technologies like in the cyber arena, hypersonics, you can go down a long list and it's great to hear that New Zealand is interested...


Government: Retiring Chief Of Navy Thanked For His Service

Defence Minister Judith Collins has thanked the Chief of Navy, Rear Admiral David Proctor, for his service as he retires from the Royal New Zealand Navy after 37 years. Rear Admiral Proctor will retire on 16 May to take up an employment opportunity in Australia... More

Labour: Grant Robertson To Retire From Parliament
Labour List MP and former Deputy Prime Minister and Minister of Finance Grant Robertson will retire from Parliament next month, and later in the year take up the position of Vice Chancellor of the University of Otago... More

Government: Humanitarian Support For Gaza & West Bank

Winston Peters has announced NZ is providing a further $5M to respond to the extreme humanitarian need in Gaza and the West Bank. “The impact of the Israel-Hamas conflict on civilians is absolutely appalling," he said... More

Government: New High Court Judge Appointed

Judith Collins has announced the appointment of Wellington Barrister Jason Scott McHerron as a High Court Judge. Justice McHerron graduated from the University of Otago with a BA in English Literature in 1994 and an LLB in 1996... More




InfoPages News Channels


Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.