Matt McCarten on Labour’s savings plan

Matt McCarten isn’t happy with Labours super plans:

Labour’s gamble on its unpredictable superannuation policy gives it media domination for the next few days, as political pundits praise Goff’s seriousness and responsibility on fiscal management. It hopes this will put Key on the back foot and open up a fruitful line of attack for Labour for the whole campaign.

But here’s the thing: making workers stay in their jobs two years longer and forcing them to hand over a percentage of their wages to a private company to invest into large capitalist corporations for a fee is not a pro-worker policy – no matter how it’s dressed up.

What happens when these companies go bust, like many have in the United States and Europe? People over there have had their entire savings wiped out through incompetence and, in some cases, downright theft.

The government doesn’t guarantee them and these people have been left penniless.

If both major parties were honest, they would admit the actual purpose of these KiwiSaver schemes is to privatise government superannuation by stealth.

Matt might have a problem with that, I certainly don’t. Labour will though:

In proposing that KiwiSaver becomes compulsory, the Labour Party is forcing workers to pay an additional flat tax towards their retirement.


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As much at home writing editorials as being the subject of them, Cam has won awards, including the Canon Media Award for his work on the Len Brown/Bevan Chuang story. When he’s not creating the news, he tends to be in it, with protagonists using the courts, media and social media to deliver financial as well as death threats.

They say that news is something that someone, somewhere, wants kept quiet. Cam Slater doesn’t do quiet and, as a result, he is a polarising, controversial but highly effective journalist who takes no prisoners.

He is fearless in his pursuit of a story.

Love him or loathe him, you can’t ignore him.

To read Cam’s previous articles click on his name in blue.

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