18 Feb 2024
Labour have given up on their own ideas, their own Budget, and their own vision. They are more interested in political attacks than fixing our country, National’s Finance spokesperson Nicola Willis says.
“Labour should be presenting New Zealanders with a plan to get them through the cost-of-living crisis. Instead, they are too busy trying to score some cheap political points by hypocritical scaremongering.
“Labour is the Party that threatened to tax KiwiSaver, wiping billions off New Zealanders KiwiSaver nest eggs. It has also refused to rule out a new wealth tax on retirement savings. New Zealanders can’t trust Labour to keep their retirement nest egg safe.
“Labour's lack of responsible financial planning to safeguard sustainable Super will leave a massive hole in the Government’s books. They will no doubt fill that hole by imposing large new taxes on working people and by loading even more debt on young New Zealanders. It’s reckless, fiscally irresponsible, and simply dishonest."
“Unlike Labour, National will be responsible managers of the Government’s books. We are committed to ensuring universal access to superannuation is protected and financially sustainable into the future, so the next generation of Kiwis can reap the same rewards.
“Our plan will gradually increase the age of eligibility to 67, with adjustments not beginning until 2044 - 20 years after the legislation has passed. This change wouldn’t affect anyone born before 1979. Our plan to phase these changes in over time gives people time to plan and is the responsible thing to do.
“This sensible change reflects the reality that New Zealanders are healthier and living longer than ever. It is a financially responsible step.
“National is committed to ensuring universal access to superannuation is protected and financially sustainable into the future.”