6 April 2005

Salvation Army says “Yes”to Savings Proposal

Savings proposals by the privately funded think tank, “The New Zealand Institute” were welcomed today by The Salvation Army as a means of reducing poverty in New Zealand. Major Campbell Roberts, National Social Policy Director for The Salvation Army, welcomed the Institute’s savings proposals as having the potential to provide a long term solution to reducing poverty.

Kiwi Savings Accounts will provide vulnerable New Zealanders with the ability to acquire assets of education and housing.

This proposal changes the debate to focus on long term ways of reducing poverty in New Zealand.

Major Campbell Roberts said “If the children of every New Zealand family currently living below the poverty line were able at 18 years of age to have today’s equivalent of $14,000 this would substantially alter intergenerational poverty in New Zealand”.

“The initial investment is high and the benefits are long term but if New Zealand is to eliminate poverty, political strength is needed that embraces such initiatives as the New Zealand Institute proposes” said Major Roberts.

ENDS

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