20 June 2002

CHP Offers Saving Incentive

NZ has identified the need for the New Zealand Government to ensure individual savings are encouraged and protected according to Finance Spokesperson and Bay of Plenty Candidate Dick Holland.

“We are concerned for New Zealanders, that financial provision for retirement is not effective,” said Mr Holland.

“A recent survey by financial services company ‘Sovereign’ shows a continuing drop in the number of New Zealanders who are saving for their retirement. The survey shows an eight percent drop in the number of people putting money away from a year ago. The findings show many people are confused and unable to decide where and how to save, which simply increases anxiety.

“Last week the Labour/Alliance Cabinet approved the members of the board of guardians of the Government’s superannuation fund, who will set the fund’s investment policies and appoint its managers. At virtually the same time, the Prime Minister Ms Clark announced the ‘early’ election.

Mr Holland suggests, “It would be interesting to know how much serious thought the other Parties and MPs will give the list of names, considering that Parliament rose four days later.”

In order to encourage New Zealanders to make increased provision for themselves and rely less on state funding, Mr Holland said that, “Christian Heritage will exempt approved investment income from tax for New Zealand residents. We will also ensure that the whole tax system strengthens families and promotes social responsibility, which will also help make the notion of retirement a less anxious, more positive, shared, community experience.

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