"Dr Cullen has confirmed today he is proposing a huge change to superannuation without a skerrick of public or political debate – at a time when New Zealanders want political agreement," Opposition Finance spokesperson Bill English said today.
"New Zealanders want long-term security for their retirement and that can only be built on broad political agreement. However, the Government has scrapped the Super 2000 Taskforce and is now well advanced in implementing its own scheme.
"In the BPS Dr Cullen is allocating billions of dollars over the next four years to a Government investment fund – that is taking the issue a long way ahead of any public or political consensus.
"From what we know so far, it looks like a case of robbing Peter to pay Paul. Running higher debt to GDP is no way to secure a sustainable super scheme.
"It also looks like a form of compulsory savings – and New Zealand voters have well and truly rejected that.
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