Ron Mark MP

New Zealand First Deputy Leader
8 NOVEMBER 2016

Superannuitants Dealt Another Blow by Government

Superannuitants are being hit with a double whammy – rising property prices and low interest rates, says New Zealand First Deputy Leader Ron Mark.

“It’s struggle street for anyone on a fixed income – all their spending is on essentials like rates, insurance and power and they’re going up.

“It’s appalling that superannuitants out of all household groups have had the highest inflationary costs on the items they purchase at 19 per cent.

“They are caught by low interest rates, with their savings producing little in the way of income, and rates hikes because of the out of control property market.

“There won’t be anything left in the kitty after the basics are paid for, at a time when many will be facing extra medical bills.

“Instead of finding solutions National has hit superannuitants in the cities by trying to cull the SuperGold Card from free off peak public transport – Aucklanders are now faced with paying for a smart card, and putting credit on it.

“And ratepayers are taking a hit from National after it pushed responsibility for the SuperGold Card transport on to regional authorities.

“That’s how much National cares about superannuitants,” says Mr Mark.