About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   depositrates.co.nz  |   landlords.co.nz
Last Article Uploaded: Thursday, May 5th, 8:26PM
rss
Latest Headlines

Treasury confirms it - Govt borrowing for Superfund

Treasury has today confirmed that the government would have to borrow most of the contributions to the Superfund over the next five years.

Thursday, June 28th 2001, 3:59PM

National's Finance spokesman Bill English says the truth came out at a hearing of the Finance and Expenditure Select Committee today.

"Dr Cullen has consistently denied that the Superfund will mean more government borrowing. But today his position was undercut by his own officials.

"Budget tables show the government plans to borrow $7.6 billion over the next five years to pay for its investments. In that same period Dr Cullen's plan calls for the government to pay $6.1 billion into the Superfund.

"Treasury officials today confirmed that if there were no contributions to the Superfund the government would only be borrowing $1.5 billion.

"Treasury officials also confirmed that it doesn't make sense to borrow for saving.

"Borrowing to invest in the Superfund is like increasing your mortgage to buy shares. You might come out ahead, but you might lose the lot.

"It certainly isn't smart to rely on that kind of investment," Bill English said.

« All money should be invested offshoreAMP & Good Returns launch superannuation website »

Special Offers

Commenting is closed

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
  • Industry told: Make Kiwis care
    “If the industry tries to "make Kiwis care" it will likely be seen as self-serving and ignored at best. It is time the Government,...”
    6 hours ago by Tash
  • Industry told: Make Kiwis care
    “I agree there are far too many people in KiwiSaver not seeking advice. However, until clients are prepared to pay for my...”
    13 hours ago by John Milner
  • ANZ happy with broker remuneration model
    “"They’re a nice little additive to our business" Good grief. 39% of their business and all we get is this comment!...”
    1 day ago by JeffQV
  • Obituary - Paul Murphy
    “Very much a gentleman in the truest sense of the word. Sad loss to all. RIP Paul....”
    1 day ago by dcwhyte
  • Obituary - Paul Murphy
    “A sad day indeed, am glad I got to know him, RIP Paul ...”
    2 days ago by FionaFourie
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
ANZ 5.64 4.75 4.85 4.99
ANZ Special - 4.25 4.35 -
ASB Bank 5.55 4.69 4.89 5.25
ASB Bank Special - 4.15 4.39 4.65
BankDirect 5.55 4.69 4.89 5.25
BankDirect Special - 4.15 4.39 4.65
BNZ - Mortgage One 6.30 - - -
BNZ - Rapid Repay 5.75 - - -
BNZ - Special - 4.25 4.39 4.64
BNZ - Std, FlyBuys 5.69 4.85 4.89 4.99
BNZ - TotalMoney 5.69 - - -
Lender Flt 1yr 2yr 3yr
Credit Union Auckland 6.70 - - -
Credit Union Baywide 5.95 ▼4.99 ▼4.99 -
Credit Union North 6.45 - - -
Credit Union South 6.45 - - -
Finance Direct 6.10 6.45 6.69 7.10
First Credit Union 5.85 - - -
Heartland 6.70 7.00 7.25 7.85
Heretaunga Building Society 5.60 4.85 4.90 -
Housing NZ Corp 5.55 4.69 4.85 4.99
HSBC Premier 6.10 4.25 4.39 4.59
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - 4.25 4.25 -
ICBC 5.60 4.39 4.69 4.99
Kiwibank 5.45 4.70 4.75 4.75
Kiwibank - Capped - - - -
Kiwibank - Offset 5.50 - - -
Kiwibank Special - 4.29 4.25 4.85
Liberty - - - -
Napier Building Society 6.50 5.80 6.70 -
Nelson Building Society 6.10 4.85 4.99 -
NZ Home Loans 5.85 4.69 4.75 5.09
Perpetual Trust 7.70 - - -
Lender Flt 1yr 2yr 3yr
Resimac 5.59 5.24 5.29 5.39
SBS Bank 5.59 4.75 4.89 4.99
SBS Bank Special - 4.10 4.29 4.65
Sovereign 5.65 4.69 4.89 5.09
Sovereign Special - 4.15 4.39 4.65
The Co-operative Bank 5.45 4.25 4.35 4.65
TSB Bank 5.54 4.85 4.95 5.25
TSB Special - 4.35 4.19 4.79
Wairarapa Building Society 6.20 5.75 5.95 -
Westpac 5.75 4.79 4.89 4.99
Westpac - Capped rates - 5.15 5.25 -
Lender Flt 1yr 2yr 3yr
Westpac - Offset 5.75 - - -
Westpac Special - 4.25 4.39 4.80
Median 5.75 4.69 4.85 4.99

Last updated: 4 May 2016 9:27am

News Quiz

The maximum remuneration model for Australian life insurance advisers is to be set at what?

Upfront 40% + trail 20%

Upfront 50% + trail 10%

Upfront 50% + trail 20%

Upfront 60% + trail 10%

Upfront 60% + trail 20%

MORE QUIZZES »

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