19 July 1999

New Zealand First Leader Rt. Hon. Winston Peters has confirmed that New Zealand First would move after the election to restore the level of New Zealand Superannuation to no less than 67.5% of the average ordinary time
wage.

“That is what is needed after both National and Labour started chipping away at superannuation levels. Today’s level of 60% does not allow New Zealanders a dignified and useful retirement, only a mean and miserable subsistence existence.

“New Zealand First appreciates and respects the contribution our senior citizens have made, and continue to make, to the country we all share. That is why we have made this promise.

“If anyone doubts we will deliver on that promise, I remind them that in our brief period in office we maintained super income, we scrapped the iniquitous superannuation surcharge, and were scrapping at 1 October 1998 the income and asset testing regime for long stay geriatric care when Mrs Shipley ended the coalition.

“Both National and Labour will spout the Treasury line that the country cannot afford the $300 million this will cost annually. The cost is only 1/3 of two political items – the phantom tax cuts of $400 million, and the $470 million spent per annum on policy advice to the government,” said Mr Peters.

ENDS

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