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National destroys all attempts at saving
Posted by Rajen Prasad on May 20th, 2011National governments have a track record for wrecking any attempts by Labour governments at increasing our savings record. The 1975 Labour government established a compulsory national super contributory scheme. the 1975 Muldoon government cancelled it illegally. The Cullen Fund has been very successful at putting money away to fund super payments. This national government has suspended payments into that scheme. Labour’s Kiwi Saver scheme has been successful beyond all expectations. Today National will pass legislation changing it and thus breaking the rules under which 1.7 million Kiwis joined the scheme. You can’t trust them.
