Destroying a savings culture
Key: “The removal of the $1,000 kick-start contribution will not make a blind bit of difference to the number of people who join KiwiSaver.” Wrong. Completely and utterly wrong.
super fund
Who needs $4.8 billion anyway
Yesterday a report from the NZ Super Fund (the Cullen fund) provided further evidence of National’s economic “genius”. We could have used the $4.8 billion that they just chucked away.
Polity: Buy low, sell high. Except National.
Rob at Polity points out National’s intensely unstrategic view about investments and asset sales. In a down market where all the indications said “buy,” National sold our assets for a pittance, and refused to invest in the Super Fund. The Super Fund has been making returns of 21%, far exceeding the Crown’s cost of borrowing. And National will only start investing in the Super Fund when equities are expensive again. It is almost as if they wanted to waste taxpayers funds eh?
NACTs leave ethical investment to ‘the market’
Last night National and ACT voted down Grant Robertson’s ethical investment bill on the basis that “the market” would somehow solve the problem.
You can imagine what these people would have said about slavery at the time of the Civil War.
Cullen’s two cents
Quite rightly, Michael Cullen has avoided getting involved in the debate over National’s starvation diet for the New Zealand Superannuation Fund, known as […]