Strong language. I have recently been in Australia, the local headlines confirming the complexity and difficulties Aussie faces with their scheme. Compulsory Super always brings Tax credits, which currently cost more to sustain than Aussie Super. You also need a lawyer and an accountant in practice to walk your way through a camaflague of legislation, tilted towards the wealthy. And the National party wants to go down that track!!!!!
National party policy goal is means testing and raising the age of entitlement, and their compulsory Super policy, ignoring the recommendations from their own Ministry, to do a full review before any changes, is just another example of National fiscal policy out of control. Over the last 15 yrs National have cut back Kiwi Saver entitlements , but prior to their recent annoucement , to introduce compulsion, they needed to provide some minor sweetners, and said quickly compulsion does attract some voters who like the certainity of the statement. They rely on the naivety of NZ voters not to see beyond the headline.
In Australia I wanted to track down the Television commentator I watched a year ago, talking within a policy setting of Aussie Super, and staring down the camewra, with the statement, its only time before Aussie will follow NZ Super universal path, simplicty and efficiency. Unfortunately I failed to identify the programme I watched, so the search continues.