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


National scaremongering on ACC and Super exposed

6 December 2009
Media Statement

National scaremongering on ACC and Super exposed

National’s scaremongering over ACC and Superannuation has been exposed by the continuing strong performance of the ACC and Super investment funds, Labour Leader Phil Goff says.

“The Budget decision to suspend contributions to the Super Fund with National saying it was losing money was stupid. All funds at the height of the financial crisis were losing money.

“That decision now looks even more short-sighted given the latest figures from Treasury show the fund bouncing back strongly with higher than forecast returns of the $1.3 billion for the four months to 31 October.

“The time to invest is when prices are low but National squandered the opportunity by suspending the payments which jeopardises the future pensions of all New Zealanders.

“It is the same situation with ACC. John Key and National used the lower returns from the ACC investment funds to justify huge levy hikes and cutting of entitlements.

“But ACC’s investment funds had returns of $600 million in the four months to 31 October. This was also higher than expected.

“National’s changes to ACC and Super funding made no sense at the time. They make even less sense now,” Phil Goff.


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 The Perils Of Joining AUKUS Pillar Two

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...


ACT: New Zealand Dodges Dopey Experiment In Prohibition

“Labour’s attempted crackdown on smokers would have delivered criminal groups a near-monopoly over the cigarette trade,” says ACT Health spokesman Todd Stephenson... More

Government: Backs Police To Crackdown On Gangs
The coalition Government is restoring law and order by providing police new tools to crack down on criminal gangs, says Justice Minister Paul Goldsmith and Police Minister Mark Mitchell. “Over the last five years gangs have recruited more than 3000 members, a 51 per cent increase... 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.