If you can't say something sensible, don't say anything at all..

  • Roger Sowry
Social Services, Work and Income

The opposition's attacks on the independent Superannuation Taskforce 2000 are ironic, seeing as between them they haven't come up with a single sensible idea on how to provide secure retirement income.

The Hon Roger Sowry, Minister of Social Services, Work and Income, said the Labour/Alliance bloc is still refusing to face up to the fact that NZ Superannuation is going to contribute to a massive blow-out in Government spending over the next 60 years.

"Helen Clark wants to spend $280 million by putting the floor of Superannuation back up to 65% . There goes her $300 million from putting up the top tax rate - how's she going to pay for the rest of her Super promises?

"And Jim Anderton wants to put Super up even higher - which would bankrupt the country even faster ? It's hard to believe these two have put any thought into the issue at all.

"It's simple. We can't pay for today's Superannuitants AND put money aside for the next generation of retired people, without raising taxes substantially.

"I don't think today's Superannuitants would accept what the Labour/Alliance bloc are offering, if it was going to mean their grandchildren might never be able to afford their own home, and their children won't get any help in their retirement from a crippled Government."

"Labour's suggestion of a tax to fund super can't solve the problem of less people of working age supporting more retired people."

"Everyone knows that an alternatives must be found. This is why the Government has established the independent Super 2000 Taskforce. Labour should join the Taskforce and help all parties find a long-term solution," Mr Sowry said