Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 

Budget 2007: Making the Kiwi Fly

MEDIA RELEASE
17 May 2007

Budget 2007: Making the Kiwi Fly

“The Budget enhancements to Kiwisaver will ensure it is a flying success,” CTU president Ross Wilson said today.

“The introduction of a 4% employer contribution to workplace savings over the next 4 years means New Zealand workers can start to catch up with their Australian colleagues where a 9% employer contribution is required.”

“And the $20 direct credit from the Government to workers for their savings makes it really worthwhile for workers to sign up to KiwiSaver and employer schemes.”

“This establishes a robust second tier for superannuation in addition to the entitlement to NZ Superannuation payments. “

“It is a huge boost for the income levels of workers in retirement.”

“The CTU will be working hard to promote collective bargaining so that wages are lifted for low income workers to make it easier for them to save. Although there are very significant incentives now with KiwiSaver, that is not much help if a worker cannot afford to start saving.”

“For state sector workers, the Budget will not improve or expand the new state sector savings scheme but government employers will be making employer contributions for KiwiSaver in line with the Budget announcements.”

“Employers should welcome the Kiwisaver enhancements as the Government is using a tax credit to fund most of the employer contribution, in addition to the 3% reduction in the headline tax rate also announced today,” Ross Wilson said.

Ends.

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Wage Cuts, And The Listener’s Demise

Various levels of across the board wage cuts – 10%? 15% ?- are being mooted for workers in some of our larger firms, in order to help the likes of Fletchers, Mediaworks etc survive the Covid-19 crisis. It is extraordinary that unions should be having to explain to employers (and to the public) just how unfairly the burden of such a response would fall. Basically, if you’re on a salary in six figures, a 10-15% haircut can still be worn fairly lightly. If you’re employed at or below the median wage, losing 10% of your income can be a hammer blow... More>>

 
 

Government: Seeking Infrastructure Projects


The Government has tasked a group of industry leaders to seek out infrastructure projects that are ready to start as soon as the construction industry returns to normal to reduce the economic impact of the COVID-19 pandemic, Economic Development Minister Phil Twyford and Infrastructure Minister Shane Jones say...More>>

ALSO:


Police Commissioner: Christchurch Terrorist Pleads Guilty

Police acknowledge the guilty pleas in the Christchurch Mosque attacks prosecution that were entered in the Christchurch High Court today. The guilty pleas to 51 charges of murder, 40 charges of attempted murder and one charge of engaging in a terrorist ... More>>

ALSO:

Transport: $54 billion Investment In Draft GPS 2021

The Draft Government Policy Statement (GPS) 2021 on land transport confirms that the Government will invest a record $54 billion in its balanced transport policy over the next decade. More>>

ALSO:

Gordon Campbell: On The Loss Of Abortion Safe Zones

No doubt, last night’s defeat of abortion law reform provisions that would have created safe zones around abortion clinics will be portrayed, by some, as a victory for free speech. It isn’t. It was a victory for bigotry and intimidation directed ... More>>

ALSO:

Gordon Campbell: On National's Regulation Crusade

Lets step back in time now, to simpler days and to simple-minded solutions. So…. if National gets elected, landlords will once again be able to evict tenants at will, raise rents anytime they like, and ignore the need to install a healthy standard of heating in the homes they put out to rent. This promised ‘bonfire of regulations’ is being done in the name of cutting red tape... More>>

ALSO:

SMC - Expert Reaction: PF2050 Strategy

DOC has released a strategy to reach Predator Free 2050, along with an action plan through to 2025. The predator-free goal focuses on three groups of mammals: possums, three species of rats, plus stoats, ferrets and weasels... More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 


 

InfoPages News Channels