KiwiSaver enrolments pass 300,000
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4:46 pm, December 10th, 2007 - 23 comments
Categories: labour -
Tags: labour
I wonder if the Nats still want to bin it?
Remember it was only last May that John Key told Morning Report “Oh, no. No guarantees over KiwiSaver Mark II.”
Here’s the press release.
23 comments on “KiwiSaver enrolments pass 300,000 ”
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- Release: National allocating police officers not hired yet
There are 104 fewer police officers now than there were when National came into Government. ...2 weeks ago
- Economic decline further cause for tax transformation
Today’s GDP figures combined with the injustice of our tax system will mean more pain for our lowest-income households while those at the top remain relatively unscathed. ...2 weeks ago
- Release: No growth under National, just cuts
The National Government’s decisions have hindered, not helped the economy. ...2 weeks ago
- Govt must act to avoid the worst of NIWA’s climate projections
New climate projections from NIWA underscore how urgently climate action is needed. ...3 weeks ago
- Release: More job losses as Government fails on manufacturing
The Government is failing the manufacturing sector with no plan for its future. ...3 weeks ago
- Iwi-led and partnered projects among those referred for Fast Track approval
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The Fast-track Approvals Bill will list 22 renewable electricity projects with a combined capacity of 3 Gigawatts, which will help secure a clean, reliable and affordable supply of electricity across New Zealand, Energy Minister Simeon Brown says. “The Government has a goal of doubling New Zealand’s renewable electricity generation. The 22 ...6 hours ago
- Fast-track to drive transport projects forward
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- Fast-track projects released
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- Ruakākā recreation centre opened
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- Extra Government support for farmers and growers in Southland and parts of Otago
Agriculture Minister Todd McClay, and Rural Communities Minister Mark Patterson announced up to $50,000 in additional Government support for farmers and growers across Southland and parts of Otago as challenging spring weather conditions have been classified a medium-scale adverse event. “The relentless wet weather has been tough on farmers and ...2 days ago
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- Response to Ministerial Inquiry into School Property
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- New Government support for residential construction market announced
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- New appointment to the EPA board
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- Strengthening resilience with critical road improvement projects
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- Doubling road rehabilitation this summer to prevent potholes
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- Sir Jerry Mateparae appointed in Bougainville post-referendum moderator role
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- Latest census data highlights New Zealand’s growing ethnic diversity
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- FamilyBoost payments make ECE more affordable
Parents and caregivers are now able to claim for FamilyBoost, which provides low-to-middle-income families with young children payments to help them meet early childhood education (ECE) costs. “FamilyBoost is one of the ways we are supporting families with young children who are struggling with the cost of living, by helping ...3 days ago
- South Pacific defence meeting fosters collaboration
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- Minister welcomes larger Police recruitment wings
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- Speech to the Minerals West Coast Forum
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- Positive progress on Government health targets
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- Supporting better access to data for Kiwis
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- Progressing remote building inspections
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- PPTA accepts charter schools
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- New TAIC Chief Commissioner appointed
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- Government secures market access for blueberries to Korea
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- South Pacific Defence Ministers meet in Auckland
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- Keytruda, CGMs, and FamilyBoost welcomed
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- Children’s Unit opens at Rotorua Hospital
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- Minor variations no longer major problem
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- New diplomatic appointments
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- SuperGold Information Hub live
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- New fund to clean up old landfill and dump sites
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- Increased medicines access welcomed following budget boost
Associate Health Minister with responsibility for Pharmac David Seymour has welcomed the increased availability of medicines for Kiwis resulting from the Government’s increased investment in Pharmac. “Pharmac operates independently, but it must work within the budget constraints set by the Government,” says Mr Seymour. “When our Government assumed office, New ...6 days ago
- Foreign Minister completes successful week of international engagements
Foreign Minister Winston Peters today wrapped up a week of high-level engagements at the United Nations in New York and in Papeete, French Polynesia. “Our visit to New York was about demonstrating New Zealand’s unwavering support for an international system based on rules and respect for the UN Charter, as ...6 days ago
- Final 2024 Action Plan focused on infrastructure
The Government’s Quarter Four (Q4) Action Plan will be focused on making it easier and faster to build infrastructure in New Zealand as part of its wider plan to rebuild the economy, Prime Minister Christopher Luxon says. “My Government has been working at pace to get the country back on ...6 days ago
- Four new laws to tackle crime passed in Q3
New Zealanders will be safer as a result of the Government’s crackdown on crime which includes tougher laws for offenders and gangs delivered as part of the Quarter Three (Q3) Action Plan, Prime Minister Christopher Luxon says. “I’m proud to say we have delivered on 39 of the 40 actions ...6 days ago
- Government partnership boosting vineyard productivity
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- Strong support for NZ minerals strategy
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- Snapper catch limits up, orange roughy down
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- Reforming the building consent system
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- Cost-benefit analysis for potential third medical school completed
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- In pictures: The Office of the Clerk vets Parliament’s questions
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- Fast Track First 149 Projects – Reckless Extremism
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- Government unveils 149 projects selected by Fast-track Approvals Bill
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Bribing us with out own money. Brilliant in its simplicity.
bets on next May that John Key will tell Morning Report “Oh, yes. Yes guarantees over KiwiSaver Mark II”?
Probably about the same as Cullen telling Morning Report “Oh no, my tax cuts won’t be inflationary”
Double
So you think tax cuts are inflationary, then?
No, I’m sure that Cullen will claim that his cuts won’t be inflationary. Are you having trouble understanding what I write?
g, you’re so mean insisting on IP being consistent.
in Nationland, tax cuts aren’t inflationary because they pay for all the services that aren’t cut but increase more slowly.
Double Scoop of Stupid
It’s not really that funny to caricature Cullen as backtracking on tax cuts being inflationary when National are planning to offer even bigger cuts.
We’ll all just wait patiently while you think about it, then get back to us.
Don Brash, 2005: “We will cancel Labour’s Kiwisaver programme”.
Don Brash, 2007: sets up Kiwisaver fund and invites people to invest.
Obviously tax cuts can be inflationary, that doesn’t mean all tax cuts are inflationary – its a matter of scale, who gets the largest cuts, and timing.
Sometimes I’d like to get my dusty old Econ101 text book out from the shelf, and beat a few people senseless with it… it was a hard covered one too.
A challenge to you Sprout; show me any evidence, from the last 20 years, where changes in taxes in a small open economies, be it up or down, has CONSISTENTLY resulted in changes to inflation rates that match the claims of Michael Cullen. I’m willing to bet that you cant find any, simply because there are so many other factors involved.
Exchange Rates, Interest Rates, Productivity, World Commodity Market’s… these are the things that drive NZ Inflation, not Tax.
Phil
It’s not that complicated. More money going round = inflationary pressure.
“Bribing us with our own money. Brilliant in its simplicity.”
This argument sounds familiar…
“Whats yours is mine, and what is mine is mine”. Two peas in a pod, wouldn’t you agree?
Hell no, the state better pay for me, but mygod if I ever have to contribute something back…
No Gruela, you’re completely ignoring the supply side dynamic there.
More money going round = more motivation to produce more ‘stuff’, so that you capture a share of that additional money.
It starts getting very murky when you factor in all sorts of messy variables like reinvestment rates, the propensity to spend vs save, the responsiveness of price to changes in supply and demand, and capacity untilization.
Hey Gruela, you’re letting your latent communist tendencies show. You had better be careful there – not even many Party voters want full state control of all money.
Phil
But when an economy is so close to full capacity, and so open, as is NZ’s, it’s hard to see how the supply side is going to soak up much of that money.
Double
Communist? That has to take the prize for non-sequitor of the day.
You’re dead right about “close to full capacity” – we have been for quite some time now, and it doesn’t look like changing any time soon. If the housing market falls over, then tax cuts MIGHT be just the antidote to rescue us from a consumer spending related recession.
w.r.t. the openness of the economy, and our reasonably free ability to trade with other nations, that in effect “exports” inflation away from NZ.
I’m expecting increased spend on infrastructure once the US crunch starts to bite here.
Deleting all my comments now are we? Crushing dissent, huh?
Wow, the two words I need to type are “Jewish” & “Excess”, ironic huh?
Question.
What percentage of this 300,000 enrolements are due to people starting a new position where enrolement is mandatory.
Kimble, no one’s deleted your comment. Stop being paranoid. You’re probably entering the captcha incorrectly.
Policy Parrot said:
“”Whats yours is mine, and what is mine is mine”. Two peas in a pod, wouldn’t you agree?
Hell no, the state better pay for me, but mygod if I ever have to contribute something back.”
Are you even capable of mounting a credible argument?
http://www.nzherald.co.nz/feature/story.cfm?c_id=1501206&objectid=10441313
“Mr Key said it was “a little too early to tell” what National would do. He could give “no guarantees over KiwiSaver mark two”.
But Mr Key said he did not believe the issue was a “hugely pressing” one for New Zealanders.”
He said: “We’re not going to go into an election without complete and clear transparency of how we’ll have everything from Working For Families, KiwiSaver and tax but we’ll do that within plenty of time but we’ll do it on our timetable, not a timetable that suits Labour.”
So what exactly is the problem with this? If this is all you have to indicate that National would scrap Kiwisaver, then you are drawing a very long bow.
The numbers joining up are worthless as an indication of the likely success of Kiwisaver. With the incentives in place, joining Kiwisaver is a no brainer for anyone that can afford it.
Besides, Kiwisaver is an opt-out scheme, people are enrolled automatically when they start a new job. Many of those 300,000 could simply be natural labour market churn. To get a true picture of its popularity you need stats on how many people are joining ‘out of cycle’.
Not that is really matters, while Kiwisaver may be attractive to individuals, it doesnt mean it is the right scheme for the country.
Slightly makes a good point about employment ‘churn’, but the other question, as yet unanswered, is; “How many of these enrolments are simply people switching from one workplace based retirement fund into another.
I suspect a great many people are switching from, say, SSRSS to Kiwisaver – and as a result our net savings are growing no faster than before