Editor comment
With property and investment funds providing year in and year out positive dollar returns, the lack of focus on bank account savings and similar is of concern. The Governments 2020 decision to delay the introduction of the deposit guarantee scheme, continues to leave savers exposed. The over stimulation of the economy by the Reserve bank, has impacted adversely on bank deposit rates, producing an imbalance which has been blindly accepted by NZ economists.
Both Peter Neilson (Former Revenue and Assistant Finance Minister ) and Age Concern chief executive Robyn Scott have raised in the past unfairness in the taxation system suggesting taxing only the “real” component of interest payments on term deposits would improve the lifestyles of the elderly.
New Zealand has been captured by the aura of Adrian Orr, which appears to have shut out all discussion on fairness, equity and balance in the savings and investment sphere. Silence is not Golden.
A reminder for us all
Posted Alec Waugh 4 February