Looks like we have another entry for BLiP’s ongoing series of Key Fibs. This post will not need many words.
Stuff reports that on May 25 John Key told Parliament that the budget cuts to Kiwisaver would not make any difference to the numbers enrolled. In particular:
“[T]he removal of the $1,000 kickstart contribution will not make a blind bit of difference to the number of people who join KiwiSaver,” Key told Parliament on May 26, claiming the statement was derived from “the formal advice from the Inland Revenue Department”.
Yesterday’s Treasury dump of papers included the advice from the IRD to the Government about Kiwisaver. The IRD paper included this advice on the likely effects to Kiwisaver providers:
Lower numbers of KiwiSaver members (particularly among the self-employed and children) and therefore lower revenues from fees and/or a greater number of dormant accounts (if affected individuals stop contributing)”.
Can anyone reconcile these statements? I have tried to but I cannot stretch the language sufficiently.
Another example of a #Keyfib?
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