Wednesday, December 8, 2010

Key doesn't fit the National Party lock...

John Key, leader of the New Zealand National PartyImage via WikipediaJohn key appears to be out of line with the philosophy of the ruling National Party in New Zealand. key claims that National will not , if re-elected next year, raise the eligibility age for National Superannuation to 67 years over the next few years. Yeah right!

The colourful Winston Peters, leader of the NZ First Party who were routed and kicked out of parliament at the last elections, returned to the House to give evidence to a committee considering a report that wants the eligibility age increased to 67 years eventually, because the country could not sustain a National Super from 65 years. Peters claims the country can and should continue to afford it.

While in power, Labour began its Cullen scheme of virtually prepaying a certain percentage of National Super funds each year by investing them overseas. Some say a certain percentage should also be invested in the domestic economy too. This would be in line with the compulsory NZ Super scheme of the former Labour Government in 1974 which invested locally. Robert Muldoon arbitarily and illegally forced employers to stop deducting their employees contributions when he was elected in 1975.

Perhaps a return to the Labour compulsory scheme of 1974 would be of benefit to the NZ economy. A scheme similar to that of Australia who has billions of dollars invested locally from their scheme.

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