About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   depositrates.co.nz  |   landlords.co.nz
Last Article Uploaded: Monday, April 21st, 4:14PM
rss
Latest Headlines

National Shares Greens' Concerns Over Super Fund

National's Finance spokesman Bill English says he admires the Green Party's courage in resisting the temptation to give in to political expediency over the Government's proposed super fund.

Sunday, June 3rd 2001, 5:26PM
National's Finance spokesman Bill English says he admires the Green Party's courage in resisting the temptation to give in to political expediency over the Government's proposed super fund.

"The Greens are to be admired for not allowing themselves to be pushed into agreeing to the fund just because Labour think it's good politics for the next election. That stands in sharp contrast to the Alliance, which agreed to support Dr Cullen's proposal in a trade-off to get funding for their so-called People's Bank," Bill English said today.

"The Greens haven't been expedient. Instead they appear to have been working hard to understand the issues involved with the huge fiscal commitment the super fund would involve. Labour's plan runs for 100 years and it's the biggest single commitment of taxpayers' money any political party will make in the next few decades.

"The Greens have obviously found the weight of evidence to be against the fund and their decision will be a wake-up call to churches, unions and community groups who have so far had nothing to say about the fund.

"National shares a lot of the concerns the Greens have expressed about the fund. This is especially true for Green co-leader Rod Donald's comment that 'the requirement to pre-fund super would be a straight-jacket on all future Government spending decisions (which) would suck dry future budgets (and) could leave other portfolios like health and education even worse off'.

"There has been no public debate over whether this fund, or a faster growing economy is the better guarantee of the security of future pensions.

"National also shares the Greens' concerns that the Government now plans to borrow in order to pay for the fund.

"The Greens have also correctly identified concerns over the process by which the Government has devised and advanced Dr Cullen's proposal. National went into consideration of this proposal open to being persuaded of its merits. However the Government hasn't made any effort to persuade its own supporters, let alone other parties. That is not the way to broker enduring cross-party support for a proposal which can only succeed if it has strong political and public support.

"Our Caucus is yet to make a final decision on Dr Cullen's proposed fund. However the inability of the Government to get its own house in order over this proposal heightens our fears that such a fund might prove impossible to protect against political tinkering over a number of decades," Mr English said.

« Fund's rules present problemsAMP & Good Returns launch superannuation website »

Special Offers

Commenting is closed

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
  • Spicers' restraint of trade draconian
    “Yes, a self employed contractor may be dealt with differently than a franchisee in regard to your point made where there...”
    4 days ago by Michael Donovan
  • Pricing chaos in home loan market
    “Why has New Zealand consistently have the highest interest rates in the western world? Why does areas outside of Auckland...”
    4 days ago by Richard
  • Financial literacy tools reach teachers
    “While there are fools and entrepreneurs, there will always be financial inequity. Everyone knows that hire purchase is expensive,...”
    4 days ago by Andy
  • Call for advisers to audit each other
    “Maybe a senior adviser would have good back ground knowledge of the audit requirements and not be a newbie in the audit game,...”
    4 days ago by Gerald Gates
  • Call for advisers to audit each other
    “Thank you Nigel for going into Bat once again for us. I am an AFA specializing in the Family Market, therefore mostly Presenting/Promoting...”
    4 days ago by Lyall Daines
Subscribe Now

News and information about KiwiSaver

Previous News

MORE NEWS»

Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AMP Home Loans 6.49 5.69 6.29 6.40
AMP Home Loans $200k+ 6.39 5.59 5.99 6.30
AMP Home Loans LVR <80% - - 5.99 -
ANZ 5.99 5.85 6.49 6.85
ANZ LVR > 80 5.99 6.35 6.99 7.35
ANZ Special - - 5.95 -
ASB Bank 6.00 5.85 6.49 6.85
ASB Bank Special - - - -
BankDirect 6.00 5.85 6.49 6.85
BankDirect Special - - - -
BNZ - Classic - - 5.95 -
Lender Flt 1yr 2yr 3yr
BNZ - GlobalPlus 6.19 5.85 6.29 6.29
BNZ - Mortgage One 6.60 - - -
BNZ - Rapid Repay 6.19 - - -
BNZ - Std, FlyBuys 6.19 5.85 6.29 6.29
BNZ - TotalMoney 5.99 - - -
Credit Union Auckland 6.20 - - -
Credit Union Baywide 5.85 5.90 6.50 -
Credit Union North 6.45 - - -
Credit Union South 5.75 - - -
eMortgage 6.04 6.15 6.69 7.19
Fidelity Life 5.70 5.40 6.00 -
Lender Flt 1yr 2yr 3yr
Finance Direct 6.10 6.45 6.69 7.10
First Credit Union 6.45 - - -
General Finance 5.95 6.25 6.50 7.10
HBS Bank 5.90 ▲5.60 ▲5.99 ▲6.35
HBS LVR > 80% - - - -
Heartland 5.95 6.25 6.50 7.10
Heretaunga Building Society 5.75 5.50 6.30 -
Housing NZ Corp 5.75 5.50 6.30 6.40
HSBC Premier 6.24 5.59 6.29 6.55
HSBC Premier LVR > 80% - - - -
HSBC Special - - 5.79 -
Lender Flt 1yr 2yr 3yr
Kiwibank 5.90 5.69 5.99 6.40
Kiwibank - Capped 5.65 6.50 - -
Kiwibank - Offset 5.60 - - -
Kiwibank LVR > 80% - - 6.29 6.40
Liberty 5.64 - - -
Napier Building Society 5.80 6.00 6.70 -
Nelson Building Society 6.45 5.95 6.60 -
NZ Home Loans 6.10 5.69 6.29 6.60
Perpetual Trust 7.70 - - -
RESIMAC - lo doc 7.34 7.14 7.49 8.05
RESIMAC LVR < 80% 5.84 5.64 5.99 6.55
Lender Flt 1yr 2yr 3yr
RESIMAC LVR < 85% 6.84 6.64 6.99 7.55
RESIMAC LVR < 90% 7.84 7.64 7.99 8.55
SBS Bank 5.90 ▲5.60 ▲5.99 ▲6.35
SBS LVR < 80% - - - -
Silver Fern 5.95 6.10 6.55 7.05
Southern Cross 5.95 6.25 6.50 7.10
Sovereign 6.10 5.85 6.49 6.85
Sovereign Special - - - -
The Co-operative Bank 5.95 5.65 5.99 6.35
TSB Bank 6.04 5.40 5.99 6.40
Wairarapa Building Society 6.20 5.75 5.95 -
Lender Flt 1yr 2yr 3yr
Westpac 5.74 5.85 5.95 6.85
Westpac - Capped rates - 6.19 6.69 -
Westpac - Offset 5.74 - - -
Median 6.00 5.85 6.29 6.85

Last updated: 15 April 2014 9:01am

News Quiz

Who delivered FMA's quarterly briefing in Auckland last week?

new chief executive Rob Everett

Head of Enforcement Belinda Moffat

Head of Compliance Monitoring Elaine Campbell,

Chairman Simon Allen

MORE QUIZZES »

About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
 
Site by PHP Developer and eyelovedesign.com