Written By: - Date published: 10:08 am, November 7th, 2011 - 67 comments
We live in a time of inter-related crises of the environment and the capitalist economic system. So, I guess it’s not surprising to see Labour becoming more environmentally aware at the same time as the Greens propose economic policies that would normally be out of Labour’s playbook. Don’t worry about them becoming too alike, welcome the solid platform for a new government.
Written By: - Date published: 6:37 am, October 28th, 2011 - 99 comments
Well, they said they were going to run this campaign on policy and make the bold moves, and Labour proved that with their savings policy. National is been left floundering. Brand Key is unraveling while Labour starts to dictate the play for the first time since Orewa. But the substance of the savings policy wants a closer look, it has both good and bad aspects.
Written By: - Date published: 7:14 am, August 4th, 2011 - 39 comments
Good to see the government considering a move that would significantly boost KiwiSaver uptake – even if it does highlight their ideological inconsistency!
Written By: - Date published: 7:07 am, July 4th, 2011 - 2 comments
John Key’s government celebrated KiwiSaver’s 4th birthday on July 1 with cuts to your entitlements. (Zet mentioned this here, but this is my take…)
Written By: - Date published: 1:16 pm, July 1st, 2011 - 26 comments
From today, the government’s contribution to your Kiwisaver has been cut in half. ‘What?’, you say, ‘Didn’t they say that would only come in if they got re-elected?’ Yeah, nah. They were lying to you. From today on, the government contribution is a maximum of $10 a week. Remember, this was the central plank of National’s savings budget.
Written By: - Date published: 8:53 am, June 12th, 2011 - 15 comments
Amongst the many vacuous claims made in relation to the last budget, the claim that cuts to KiwiSaver would encourage savings always struck me as the dumbest. Now the facts are in, and guess what…
Written By: - Date published: 10:56 am, May 26th, 2011 - 15 comments
Remember when John Key was promising that he would seek a mandate from the people at the election before starting to sell public assets and cutting Kiwisaver. It was only a week ago. And he’s breaking his promises already: the Kiwisaver cuts actually kick in on July 1, and the privatisation process is underway.
Written By: - Date published: 12:00 pm, May 25th, 2011 - 22 comments
*Key says that we will get to vote on his Kiwisaver cuts in the election. Truth is, they passed the law last week and the tax credits are cut from July 1. *What’s up with the dodgy Kiwibank numbers? Plans for sale? *The govt is importing World Cup workers while 270K are jobless. *Key’s jokes falling flat with pissed off voters.
Written By: - Date published: 9:31 am, May 12th, 2011 - 25 comments
John Key has announced National’s third reform of Kiwisaver in 3 years, saying the government’s contribution will be cut and made up with higher minimum contributions from members and their employers. It’s an embarrassing flip-flop from the government that cut default contribution rates and shows no plan for the future.
Written By: - Date published: 7:44 am, May 11th, 2011 - 49 comments
The Nats have run this country into the ground and say there’s no option but to slash Kiwisaver. The actual cuts they announce will be less than foreshadowed, and we will then be expected to be grateful. It’s the Nats’ old trick. But the reality is there’s no need for Kiwisaver cuts at all. Not while the rich keep the tax cuts National gave them.
Written By: - Date published: 6:32 am, May 10th, 2011 - 81 comments
John Key has confirmed he intends to slash Kiwisaver to the bone by cutting the up to $1040 a year government contribution you get as a member. Of course, this is the savings budget according to National’s spin. They’re going to ‘encourage’ savings by taking that money from Kiwisaver and giving it to rich individual savers. It’s just more class war.
Written By: - Date published: 11:31 pm, March 1st, 2011 - 141 comments
I’m really pissed off that politics has come into the Christchurch earthquake so quickly. But make no mistake, the Nats are pursuing a strongly ideological agenda. They’re using the quake as cover for radically cutting important policies and making other extreme decisions, while preserving the tax cuts for the rich. It’s called the Shock Doctrine.
Written By: - Date published: 10:16 pm, January 13th, 2011 - 64 comments
Another great piece of work from I/S at No Right Turn: “the Exclusive Brethren have set up their own KiwiSaver scheme… The scheme will only be offered to members of the cult. This is, of course, illegal.” They’re trying to take taxpayer money for a business that illegally discriminates on the grounds of religion. It must be stopped.
Written By: - Date published: 9:26 am, October 16th, 2010 - 42 comments
National is developing an agenda for privatisation. It’s crazy. State owned assets are generating some rare bright spots in an otherwise dismal sea of poor economic news. So why would any rational government sell ACC (or other state owned assets)? Why would any rational government be cutting back on the Cullen Fund? Why are the Nats determined to kill the golden geese?
Written By: - Date published: 10:07 am, August 16th, 2010 - 17 comments
Odd to see in the Sunday-Star Times that the Government is looking at introducing compulsory superannuation savings. After all, this is the same government that gutted Kiwisaver and the Cullen Fund just a year ago. Hmm, have they seen the light? Somehow I doubt it. The Nats see compulsory super savings as a replacement for the universal superannuation we have now.
Written By: - Date published: 7:34 pm, July 2nd, 2010 - 6 comments
KiwiBank boss, Sam Knowles wants the Government to step up to the plate and improve NZs saving rate, through making KiwiSaver compulsory.
Written By: - Date published: 8:24 am, March 16th, 2010 - 19 comments
The New Zealand economic reforms of the 1980s and 1990s were largely a failure. This can be seen from the large negative divergence post 1984 in New Zealand’s real output per capita in comparison to Australia, our usual benchmark. New Zealand’s comparative position vis-Ã -vis unemployment also worsened. Poverty and social inequality increased. Australia undertook various …
Written By: - Date published: 2:35 pm, October 31st, 2009 - 7 comments
A range of interesting political/economic comment today in the Herald: Fran O’Sullivan joins the left-wing and groups like Federated Farmers in calling on the Key Government to sort out monetary policy. At the moment, the Reserve Bank is tasked solely with controlling inflation with interest rates as its only real tool, while the exchange is …
Written By: - Date published: 2:13 pm, September 10th, 2009 - 31 comments
Former National Party leader Dr Don Brash and Auckland Mayor John Banks love making the big bucks. And what better way to do it than hitting the most vulnerable in society. Today the National Party stalwarts are after mental patients. The Herald notes: KiwiSaver targets mental patient An Auckland woman is dismayed her 25-year-old son …
Written By: - Date published: 4:59 pm, December 22nd, 2008 - 37 comments
The Council of Trade Unions has done some research showing a worker with a Kiwisaver account will stand to lose as much as $200,000 in accumulated savings over their working life as a result of the National-led Government’s changes to the scheme. If you’re on $50k a year then National’s Kiwisaver cuts will cost you …
Written By: - Date published: 9:20 pm, December 8th, 2008 - 16 comments
NZPA reports that the Government is looking at reviewing its changes to Kiwisaver so that workers who don’t earn enough to get the full $20 tax credit in a revised 2% scheme are not unfairly discriminated against. The changes are expected to cost $700 million over five years. This is a good measure, and in …
Written By: - Date published: 11:52 am, November 27th, 2008 - 34 comments
That’s Finance Minister Bill English’s message to Kiwis. So, that would be why he is cutting our Kiwisaver nesteggs in half to pay for tax cuts for the wealthy, eh?
Written By: - Date published: 10:17 am, November 14th, 2008 - 26 comments
The unions have proposed an alternative to National’s plan to slash Kiwisaver in half. If Kiwisaver has to be cut, and with National/Act in power it will happen one way or the other, then I prefer the union plan. As it stands now, you contribute 4% of your gross earnings, your employer matches that 4% …
Written By: - Date published: 11:40 am, October 30th, 2008 - 1 comment
The CTU has released a second great youtube vid. Well worth a watch and emailing around.
Written By: - Date published: 11:37 am, October 24th, 2008 - 26 comments
So, you’re talking with someone about politics and they say something really dumb and wrong and you know it’s wrong but you don’t have the arguments and facts at your fingertips to make a decisive point. That’s where our election series, The Standard line, comes in. The info you need in bite-size form. Today: Kiwisaver Points …
Written By: - Date published: 11:20 am, October 21st, 2008 - 53 comments
Labour’s new television ad is up on Youtube and I’m pleased to see it’s actually pretty bloody good. They’ve managed to draw attention to one of John’s many flipflops, this one on Kiwisaver, in a way that uses humour and sticks to the facts and thereby avoids the nastiness often associated with negative campaigning. It’s …
Written By: - Date published: 8:30 am, October 14th, 2008 - 19 comments
So, you’re one of the 900,000 Kiwis who have so far signed up to Kiwisaver. You know that you get $1000 on signing up, you put in 4% of your gross income, the Government matches that up to $20 a week, and your employer matches with at least 1% rising to 4% by 2011. It’s …
Written By: - Date published: 11:22 am, October 12th, 2008 - 10 comments
A few thoughts from today’s Agenda: Questioned about why National would introduce another tax rebate, having endlessly criticised Working for Families because of its complexity, English says ‘we do, in the long term, want a simpler tax system’. So, be on notice, Working for Families is under threat from National – they would ‘eventualy, but …
Written By: - Date published: 9:49 pm, October 11th, 2008 - 11 comments
I don’t want this post to be taken as overly critical; it’s just meant to offer some constructive advice. John Armstrong’s piece in the Herald today is good. It’s great to see a senior political commentator acknowledging that politics is a competition of ideologies, rather than merely a game or competition of personalities, but it’s …
Written By: - Date published: 12:53 pm, October 10th, 2008 - 22 comments
I was going to write about the economic effects of taking money out of Kiwisaver and spending it on tax cuts but this youtube video with South Park characters does the job and is much more fun: (hattip: Labour’s ‘Campaign Trail‘ blog)
Written By: - Date published: 1:32 am, October 9th, 2008 - 56 comments
That was going to be the title of my first post on National’s tax-cut plan but then it turned out National’s plan would actually make about 1 million taxpayers worse off compared to Labour’s cuts (all figures derived from the Budget and National’s tax policy). That 1 million comprises approx 650,000, including nearly all super-annuitants, …
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