Responding to the National Party’s plan to cut red tape for KiwiSavers, Taxpayers’ Union Campaigns Manager, Callum Purves, said:

“New Zealanders should be free to save and invest their money however they see fit, and we welcome this decision by the National Party to go back to treating savers like responsible adults.

“Allowing savers to choose how to invest their savings will not only allow New Zealanders to see greater potential returns on their investments, but diversified investments will allow Kiwis to reward innovation and entrepreneurship. This extra financial freedom will be a tremendous boon to New Zealand’s economy.

“Ineffective red tape which does nothing but invade savers’ privacy and drive up the cost of borrowing should also be resigned to the scrap heap. Hopefully National’s pledge to reform the Credit Contracts and Consumer Finance and Conduct of Financial Institutions Acts is only the first step of many towards getting bureaucracy out of the way of New Zealand’s prosperity.”

© Scoop Media