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


Axing KiwiSaver to pay for tax cuts


08 October 2008

Axing KiwiSaver to pay for tax cuts is not a serious economic plan

“The National Party tax policy does nothing to address New Zealand’s low wage problem and significantly discourages long term savings. Axing KiwiSaver to pay for tax cuts is not a serious economic plan,” CTU Economist Peter Conway said.

“The National Party proposes to take money out of research and development, slash the popular KiwiSaver scheme, and exclude hundreds of thousands of families from their plan in order to deliver another $10 a week next year.”

“And it is hard to believe that the National party would take an axe to KiwiSaver when as a country we need to lift savings.”

“The real issue for workers is how to lift wages. This policy does not commit to lift the minimum wage or improve wage bargaining opportunities.”

“The language of their announcement is pitched at those on the average wage. But over two-thirds of workers earn less than this.”

“We have supported 2+2 arrangements as a starting point but under the current scheme, this attracts the full value of member tax credits and employer tax credits. Under the National Party proposal there would be enormous pressure on workers to pay for the employer contribution by forgoing a wage increase. And for those who joined expecting a 4 per cent employer contribution, this is a major reduction.”

“John Key’s language around belt tightening in the public service will also send a chill down the spine of every public servant in the country. National gutted public services in the 1990s, and they look set to do so again.”


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Why Raising Corporate Taxes Has Become A Hot New Political Cause

Surprisingly, “raising taxes” has become a very fashionable political idea in 2021. That’s right. After decades of being seen (at best) as a necessary evil, higher corporate taxes are now being treated as the Great Good Thing that will revive the US economy, re-distribute wealth productively, help to build neglected and decaying public infrastructure, fund public health, address social inequality, restore a sense of community and generally make everyone feel better about the society in which they live... More>>


Government: The Duke Of Edinburgh

9 April 2021 Prime Minister Jacinda Ardern today expressed New Zealand’s sorrow at the death of His Royal Highness The Prince Philip, Duke of Edinburgh. “Our thoughts are with Her Majesty The Queen at this profoundly sad time. On behalf of the New ... More>>


Government: Delivers Next Phase Of Climate Action

The Government is delivering on a key election commitment to tackle climate change, by banning new low and medium temperature coal-fired boilers and partnering with the private sector to help it transition away from fossil fuels. This is the first ... More>>

Government: Independent Experts To Advise On Post-Vaccination Future

The Government is acting to ensure decisions on responding to the next phase of the COVID-19 pandemic are informed by the best available scientific evidence and strategic public health advice. “New Zealand has worked towards an elimination ... More>>

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>>

World Travel: New Zealand Temporarily Suspending Travel From India - PM Jacinda Ardern

Travel into New Zealand from India - including for New Zealand citizens and residents - is being temporarily suspended because of high numbers of Covid-19 cases. More>>

Finance: Crown Accounts Again Better Than Forecast

Hon Grant Robertson Minister of Finance The economic recovery from COVID-19 continues to be reflected in the Government’s books, which are again better than expected. The Crown accounts for the eight months to the end of February 2021 showed both OBEGAL ... More>>




InfoPages News Channels