Budget 2017 is the Boomer Budget

“By kicking superannuation changes down the road for 20 years, Budget 2017 will be a Boomer Budget, written for boomers by boomers,” says ACT Leader David Seymour.

“The most important part of the Budget is what's not there. The four year Budget window could have included Super changes from 2020. Instead, a $58 billion bill is being slapped on New Zealand’s under-40s.

“That’s the cost of waiting 20 years to adjust the age of eligibility. It’s a politically calculated policy designed to spare baby boomers from consequences while lumping younger generations with superannuation’s ballooning costs.

“The question is whether we’ll pay the $58 billion in tax hikes, or whether it will be taken from vital spending like new infrastructure. Either way, young people are entitled to be angry.

“Baby Boomers think they can get away with it because they outnumber us. They think we can’t win because there are twice as many voters over 40 as under.

“Well, don’t forget about MMP. One in 10 millennials, fed up with being snubbed by every other party, could give ACT five MPs and the balance of power. Millennials have never had so much to vote for.

“Yet the other parties are happy to let National get away with intergenerational theft. Only ACT says we need to raise the age to 67 sooner, reducing costs and spreading the effects across multiple generations.

“ACT would announce Super adjustments in this Budget, taking effect in 2020, gradually bringing the age from 65 to 67 over 12 years. Then we’d continue adjusting the age for life expectancy after that.

“New Zealanders under 40 need representation, and as the only millennial party leader I intend to provide it.”

ENDS

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