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.
I reckon they’ll announce they will cut the government contribution by half from$20 per week to $10 – so much for this budget being all about savings. That will reduce the cost of Kiwisaver by something like $400 million a year…. Just about exactly as much as last year’s ‘broadly fiscally neutral’ tax package that gave Key his $1,000 a week tax cut is costing.