23 July 1999

Media release

If you can't say something sensible, don't say anything at all..

The opposition's attacks on the independent Superannuation Taskforce 2000 are ironic, seeing as between them they haven't come up with a single sensible idea on how to provide secure retirement income.

The Hon Roger Sowry, Minister of Social Services, Work and Income, said the Labour/Alliance bloc is still refusing to face up to the fact that NZ Superannuation is going to contribute to a massive blow-out in Government spending over the next 60 years.

"Helen Clark wants to spend $280 million by putting the floor of Superannuation back up to 65% . There goes her $300 million from putting up the top tax rate - how's she going to pay for the rest of her Super promises?

"And Jim Anderton wants to put Super up even higher - which would bankrupt the country even faster

ENDS

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