About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   depositrates.co.nz  |   landlords.co.nz
Last Article Uploaded: Tuesday, September 23rd, 8:20PM
rss
Latest Headlines

Report Proves Govt's Super Fund Flawed

A National Bank report into how the Government's super fund will be a drag on growth proves the scheme is all pain and little gain, opposition Leader Bill English says.

Wednesday, October 31st 2001, 11:38PM

by Bill English

A National Bank report into how the Government's super fund will be a drag on growth proves the scheme is all pain and little gain, opposition Leader Bill English says.

"Analysis by National Bank economists shows that the rising debt consequences of the super fund will lead to a permanent increase in New Zealand's risk premium on long term interest rates.

"This will, in turn, lower New Zealand's economic growth by 0.2% per annum.

"The National Bank economists argue that medium-term fiscal pressures are intensifying and that it will be a struggle for the Government to meet its forecasts. As the debt picture worsens, the risk premium will get larger and the fund will become an even bigger drag on growth.

"They have even gone so far as to urge the Government to condition the market to the fact that super fund contributions may have to be lowered if fiscal objectives are not met.

"It's not hard to see why the bank's report concludes that the super fund 'has little to offer on economic grounds'. Dr Cullen's only answer to New Zealand's economic malaise is in fact going to add to it.

"This report proves that Dr Cullen's 100-year plan is looking increasingly dead in the water before it even gets going. It has all the characteristics of a solution looking for the right sort of problem," English says.

This is a press release from the National Party. To read the full report click here

Bill English is the deputy leader of National and the party's spokesman on finance and superannuation.

« Prebble and Anderton agree on some thingsAMP & Good Returns launch superannuation website »

Special Offers

Commenting is closed

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
  • RFA requirements 'inadequate'
    “I strongly disagree with the David's on this one. I suspect that this is the first step towards pushing everyone up to AFA...”
    19 hours ago by Jenny Campbell
  • RFA requirements 'inadequate'
    “It would help if more people had a better understanding of applicable fiduciary obligations. Blah, blah, blah, ...record...”
    23 hours ago by btw
  • RFA requirements 'inadequate'
    “Well said Carey. I'd be interested in David's response...”
    1 day ago by Pragmatic
  • RFA requirements 'inadequate'
    “I agree with David and David that this is an issue that needs a lot more discussion. A recent experience has highlighted...”
    1 day ago by Carey Church
  • Bank advice concerns questioned
    “@Dr. Taylor. Dave Mason from BNZ here. BNZ has no restrictions on produce being on house as we do not manufacture. We prefer...”
    5 days ago by Bankadviser
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 7.24 ▼5.79 6.39 6.65
AMP Home Loans $200k+ 7.14 ▼5.69 6.29 6.55
AMP Home Loans LVR <80% - - 5.85 6.29
ANZ 6.74 6.15 6.49 6.49
ANZ LVR > 90 6.74 6.65 6.99 6.99
ANZ Special - 5.75 5.99 -
ASB Bank 6.75 6.09 6.40 6.65
ASB Bank Special - - 5.99 6.19
BankDirect 6.75 6.09 6.99 6.65
BankDirect Special - - 5.99 6.19
BNZ - Classic - - 5.99 6.19
Lender Flt 1yr 2yr 3yr
BNZ - GlobalPlus 6.74 5.99 6.39 6.59
BNZ - Mortgage One 7.15 - - -
BNZ - Rapid Repay 6.74 - - -
BNZ - Std, FlyBuys 6.74 5.99 6.39 6.59
BNZ - TotalMoney 6.74 - - -
Credit Union Auckland 6.70 - - -
Credit Union Baywide 6.45 5.90 6.50 -
Credit Union North 6.45 - - -
Credit Union South 5.75 - - -
eMortgage 6.04 6.15 6.69 7.19
Finance Direct 6.10 6.45 6.69 7.10
Lender Flt 1yr 2yr 3yr
First Credit Union 6.45 - - -
General Finance 5.95 6.25 6.50 7.10
HBS Bank 6.15 5.85 5.99 6.19
HBS Special - - - 5.89
Heartland 6.70 7.00 7.25 7.85
Heretaunga Building Society 6.70 6.00 6.50 -
Housing NZ Corp 6.74 5.99 6.39 6.59
HSBC Premier 6.84 5.95 5.95 ▼6.39
HSBC Premier LVR > 80% - 5.75 5.75 5.75
HSBC Special - - - -
ICBC 6.75 5.99 6.39 -
Lender Flt 1yr 2yr 3yr
Kiwibank 6.65 ▼5.79 6.39 6.65
Kiwibank - Capped 5.65 6.50 - -
Kiwibank - Offset 6.55 - - -
Kiwibank LVR > 80% - - 5.89 6.19
Liberty - - - -
Napier Building Society 5.80 6.00 6.70 -
Nelson Building Society 6.95 6.15 6.60 -
NZ Home Loans 6.85 6.09 6.40 6.65
Perpetual Trust 7.70 - - -
Resimac 6.59 6.35 6.58 6.77
SBS Bank 6.15 5.85 5.99 6.19
Lender Flt 1yr 2yr 3yr
SBS Bank Special - - - 5.89
Silver Fern 5.95 6.10 6.55 7.05
Sovereign 6.85 6.09 6.40 6.65
Sovereign Special - - - 6.19
The Co-operative Bank 6.70 5.95 5.99 6.19
TSB Bank 6.74 5.95 6.19 6.30
TSB Special - - 5.79 -
Wairarapa Building Society 6.20 5.75 5.95 -
Westpac 6.59 6.09 6.39 6.65
Westpac - Capped rates - 6.74 6.99 -
Westpac - Offset 6.59 - - -
Lender Flt 1yr 2yr 3yr
Westpac Special - - 5.99 6.19
Median 6.70 6.00 6.39 6.57

Last updated: 23 September 2014 9:10am

News Quiz

BNP Paribas Securities Services’ latest Asset Administration and Custody Review found worries about government regulation is causing how many to lose sleep?

50%

90%

33%

10%

67%

MORE QUIZZES »

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