Parliament

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.”

ENDS

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Erebus Memorial In Parnell

Social media can be a wonderful tool for bringing people together in a common cause. It can also be a seedbed and spreader of mis-information on a community-wide scale. To which category do the protests against the siting of an Erebus memorial (to the 257 New Zealanders who died in that tragedy) in a secluded corner of a Parnell park happen to belong? IMO, it is clearly the latter, and the reasons for thinking so are explained below... More>>

 

Agriculture: Government To Phase Out Live Exports By Sea

The Government has announced that the export of livestock by sea will cease following a transition period of up to two years, said Agriculture Minister Damien O’Connor. “At the heart of our decision is upholding New Zealand’s reputation for high ... More>>

ALSO:

Norman Gemmell: New Zealand’s New Housing Policy Is Really Just A New Tax Package — And It’s A Shambles

Norman Gemmell , Te Herenga Waka — Victoria University of Wellington Economists like to talk about “optimal policy instruments” — essentially, policies that achieve their objectives more effectively or efficiently than the alternatives, and ... More>>

Climate Change: Emissions Report Shows Urgent Action Needed

Every part of Government will need to take urgent action to bring down emissions, the Minister for Climate Change, James Shaw said today in response to the recent rise in New Zealand’s greenhouse emissions. The latest annual inventory of New ... More>>

ALSO:


Claire Breen: ACC’s Policy Of Not Covering Birth Injuries Is One More Sign The System Is Overdue For Reform

Claire Breen , University of Waikato Recent media coverage of women not being able to get treatment for birth injuries highlights yet another example of gender bias in healthcare in New Zealand. More>>

Police: Police Accept Findings Of IPCA Report Into Photographs Taken At Checkpoint

Police accept the findings of a report by the Independent Police Conduct Authority (IPCA) relating to photographs taken at a checkpoint in Northland. On November 16, 2019, Police set up a checkpoint down the road from a fight night event in Ruakaka ... More>>

ALSO:

Health: Drug-Testing Law To Be Made Permanent

Interim legislation that is already proving to keep people safer from drugs will be made permanent, Health Minister Andrew Little says. More>>

 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels