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Key and English on same super songsheet

National party leader John Key says he and deputy Bill English are simpatico on superannuation issues.

Thursday, March 29th 2007, 4:57AM

by Rob Hosking

There has been rumours in the financial services industry recently the two are at odds over superannuation issues, and, in particular, English’s comments at the recent Conferenz superannuation summit.

English told the conference National would not scrap KiwiSaver but would make changes. Compulsion though would not be one of them.

“KiwiSaver will be a catalyst, even if you don’t’ make any money out of it, and I don’t think you will,” he said. “And don’t look for quick fixes like compulsion because it ain’t gonna happen.”

Key has previously sounded interested in compulsion without committing himself to it.

Yesterday he told Good Returns he and English are “totally in line” on the issue.

“There are two issues – overall savings and diversification of portfolio.

“The too little savings issue is mostly a wealth issue – there are questions about savings habits but the biggest issue is having enough wealth to save.

“The diversification issue is around the tax treatment of housing, and the fastest way of fixing that is to provide greater incentives for savings.”

Asked whether any specifics were available on that Key said “no”.

“In the end we will have to see what is possible with the other Budget demands.

“And that will be Bill’s area.”

Rob Hosking is a Wellington-based freelance writer specialising in political, economic and IT related issues.

« Self Employed Excluded in Kiwisaver Tax IncentiveKiwiSaver default scheme providers announced »

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