Scoop has an Ethical Paywall
Licence needed for work use Learn More
Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

National votes against KiwiSaver


National votes against KiwiSaver

National today voted against the Budget legislation, underlining its opposition to the very initiatives that will help to build a stronger economy and a fairer society, Finance Minister Michael Cullen said today.

"Last week it voted against the company tax rate cut, the employee tax credit for KiwiSaver, and a lower tax rate on savings vehicles. And it voted against sending legislation to a select committee to introduce a tax credit for research and development and lifting the cap on donations to charities.

"By voting against the Budget today National is voting against:

Enhancing KiwiSaver to help more people save Business tax changes to improve productivity and competitiveness Electrification of Auckland rail Roading improvements Expanding industry training Improving health services Reducing class sizes Extra police

"It is not surprising National voted a cut in the company tax rate – that's consistent as National never voted for the last cut to the company rate in 1988, also by a Labour government.

"It is also not surprising National voted against KiwiSaver. National MPs secretly think KiwiSaver is good, but can't make up their minds.

"It should read the signs. The business community is coming strongly behind KiwiSaver. Just today Air New Zealand announced it is going to contribute 4 per cent right from the beginning of KiwiSaver on 1 July.

"Now we know what National is against, what are they for? Borrowing to finance personal tax cuts. They would rather spend our way to prosperity and send the bill to our children. That really is voodoo economics."


ends

Advertisement - scroll to continue reading

© Scoop Media

Advertisement - scroll to continue reading
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 
 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured News Channels


 
 
 
 

Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.