NZ Super plans delayed
Finance minister Michael Cullen says details of the dedicated super fund won't now be unveiled in the June budget.
Thursday, May 4th 2000, 12:00AM
Earlier this year, in his Budget Policy Statement, finance minister Michael Cullen said details of the fund would be unveiled in his June budget.
However, he is now saying that the budget won't contain details of the fund.
These comments imply that Labour is having trouble convincing its coalition partner the Alliance that the dedicated fund is a good idea.
Alliance leader Jim Anderton's view has been that the current system is adequate and there is no need to make changes.
Before the election last year Anderton said he did not support Labour's policy of setting up a vehicle to pre-fund NZ Super.
Much of the talk around Wellington at the moment is that because the Alliance won't support the scheme, the parties are looking for a face-saving compromise.
National is also unhappy with developments as it has so far been kept out of the loop.
Cullen says "with a bit of luck" he’ll be able to say more about the Government's super plans later in the year.
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