About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   depositrates.co.nz  |   landlords.co.nz
Last Article Uploaded: Saturday, August 1st, 5:26PM
rss
Latest Headlines

Planned Super Fund rapidly losing favour

National reckons the weight of evidence is building against the Government's super fund.

Tuesday, November 27th 2001, 1:29AM

The weight of evidence is building against the Government's monster super fund, but thankfully it's not too late for Dr Cullen to ditch the whole silly idea.

National's associate finance spokesman David Carter points out that over the last couple of weeks a number of respected commentators have raised serious concerns about Dr Cullen's plan to borrow billions of dollars to put into a savings account.

"Logic says it makes no sense to borrow to save, we will just go further into debt. Quite understandably key economists are concerned about the ever tightening fiscal situation and the implication of rising Government debt, the very scenario National warned Dr Cullen about at the time of the Budget in May. Borrowing to put money into overseas sharemarkets is just illogical."

"The National Bank is rightfully arguing the increased borrowings will add a permanent risk premium to New Zealand interest rates which will in turn lead to lower growth.

"Others are making the important point that there may be better uses of an average $2 billion dollars per annum for the next 25 years, such as spending on education or event tax cuts. National supports this.

"One thing is becoming increasingly clear: Dr Cullen's only answer to New Zealand's economic woes is simply going to add to the problem. The last thing New Zealanders need is Dr Cullen or Jim Anderton as their fund managers.

"Dr Cullen is about to embark on a $1 million promotion of the super fund. At the very least he should be fronting up with the hard evidence that supports the super fund being the best thing he can do with $2 billion per year. Our guess is his argument will fall well short," David Carter says.

« Super Fund will provide a basic standard of livingAMP & Good Returns launch superannuation website »

Special Offers

Commenting is closed

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
  • Massey calls for Act overhaul
    “@tash if these "experts" understood or at least willing to listen to us, we will not be having this dialogue in the first...”
    10 hours ago by w k
  • HSBC does it again
    “Apologies for the typo - the above should read "$1.020m for two years at 4.69%"...”
    16 hours ago by Laurie
  • Obituary - Bob Edwards
    “I had the experience of working closely across the table from Bob as an AXA representative negotiating adviser terms with...”
    1 day ago by Ros Hogguer
  • HSBC does it again
    “Great rate - but it's important to point out that there is no cash contribution. Today I negotiated a $10,000 cash contribution...”
    1 day ago by Laurie
  • FMA takes action against Milford trader
    “Goodness me, if the FMA are going to prosecute for “trading that manipulates the closing price” and “trading conducted...”
    1 day ago by Brent Sheather
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 6.24 5.10 5.59 5.59
ANZ Special - 4.89 4.99 -
ASB Bank 6.50 ▼5.05 ▼5.25 ▼5.35
ASB Bank Special - ▼4.69 ▼4.89 ▼4.99
BankDirect 6.50 ▼5.05 ▼5.25 ▼5.35
BankDirect Special - ▼4.69 ▼4.89 ▼4.99
BNZ - Mortgage One ▼6.65 - - -
BNZ - Rapid Repay ▼6.24 - - -
BNZ - Special - - ▼4.69 -
BNZ - Std, FlyBuys ▼6.24 5.19 5.39 5.29
BNZ - TotalMoney 5.99 - - -
Lender Flt 1yr 2yr 3yr
Credit Union Auckland 6.70 - - -
Credit Union Baywide 6.45 5.75 5.75 -
Credit Union North 6.45 - - -
Credit Union South 6.45 - - -
Finance Direct 6.10 6.45 6.69 7.10
First Credit Union 6.45 - - -
HBS Bank 6.14 5.39 5.39 5.39
HBS Special - 4.99 4.99 4.99
Heartland 6.70 7.00 7.25 7.85
Heretaunga Building Society 6.45 5.10 5.40 -
Housing NZ Corp 6.49 5.19 5.49 5.59
Lender Flt 1yr 2yr 3yr
HSBC Premier 6.60 4.89 4.89 ▼4.99
HSBC Premier LVR > 80% - - - -
HSBC Special - ▼4.49 ▼4.49 ▼4.49
ICBC 6.75 5.99 6.39 -
Kiwibank 6.15 5.39 5.49 5.69
Kiwibank - Capped - - - -
Kiwibank - Offset 6.40 - - -
Kiwibank Special - 5.09 4.99 5.39
Liberty - - - -
Napier Building Society 6.50 5.80 6.70 -
Nelson Building Society 6.70 5.65 5.95 -
Lender Flt 1yr 2yr 3yr
NZ Home Loans 6.60 5.39 5.49 6.29
Perpetual Trust 7.70 - - -
Resimac 5.84 5.60 5.65 5.79
SBS Bank 6.14 5.39 5.39 5.39
SBS Bank Special - 4.99 4.99 4.99
Sovereign 6.35 ▼5.05 ▼5.25 ▼5.35
Sovereign Special - ▼4.69 ▼4.89 ▼4.99
The Co-operative Bank 6.20 4.89 4.99 5.20
TSB Bank ▼6.24 5.45 5.49 ▼5.40
TSB Special - - 4.99 5.40
Wairarapa Building Society 6.20 5.75 5.95 -
Lender Flt 1yr 2yr 3yr
Westpac ▼6.15 5.39 5.39 5.59
Westpac - Capped rates - ▼6.15 ▼6.15 -
Westpac - Offset ▼6.15 - - -
Westpac Special - - ▼4.69 -
Median 6.45 5.19 5.39 5.39

Last updated: 31 July 2015 11:25am

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