Peters attacks National over KiwiSaver changes
National doesn't care about retirement savings, New Zealand First leader Winston Peters said in a pre-budget salvo today.
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National doesn't care about retirement savings, New Zealand First leader Winston Peters said in a pre-budget salvo today.
Prime Minister John Key last week announced KiwiSaver would be trimmed in Thursday's budget because it was costing too much and wasn't sustainable in tough economic times.
Among the changes would be a reduction in the KiwiSaver tax credit, worth about $20 a month, to be made up by higher contributions from members and employers.
Mr Peters, in a speech this morning to an Auckland Grey Power branch, said any cutbacks to retirement savings were shortsighted.
"It will once again show that a National Government does not care about building up savings or ensuring that retired people have an adequate income."
He criticised former National governments for dumping compulsory super and later cutting the super rate.
"Why is the government interfering in the personal superannuation contract of each of these people?"
Arguments the scheme was unaffordable were hard to swallow after the Government bailed out private companies.
"There is plenty of money when the government bails out their mates, but ordinary people get shafted."
Other criticisms were over tax cuts he said benefitted the wealthy and the low minimum wage. He said bank profits were offshore and New Zealand First policy was for government to use Kiwibank.
Another policy was to give the elderly a 10 percent power saving using their supergold cards.
New ACT leader Don Brash also came under attack. Mr Peters said if ACT was part of a coalition after the election the public could expect asset sales, cuts to education and health, low wages and less welfare.
NZPA
Tue, 17 May 2011
Tue, 17 May 2011
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Peters attacks National over KiwiSaver changes
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