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Winston Peters' letter to Michael Cullen

New Zealand First allows the Government to increase the level of New Zealand Superannuation.

Monday, December 20th 1999, 12:00AM

by Philip Macalister

Rt Hon Michael Cullen, Treasurer, Minister of Finance,Minister for Accident Insurance, Minister of Revenue

Dear Minister,

Further to our discussion this morning, we confirm our understanding that the Government seeks urgency on the following legislative proposals:

1. Taxation;

2. ACC;

3. Defection of MPs.

We note that a fourth proposition, namely a bill to deal with the Hauraki Gulf has not been confirmed by the Government as being under consideration for the urgency motion.

You will note New Zealand First concerns on the Taxation and ACC legislation and acceptance of the need for MP Defection legislation, although having read the bill we believe that the Select Committee will have to make substantial improvement for the proposal to be meaningful.

That said, New Zealand First will abstain on an urgency motion for Taxation, ACC and Defection of MPs, if there is a commitment to implement, at the same time the Taxation Bill becomes effective, namely 1st April 2000, the reinstatement of the superannuation payment to the elderly at the rate of 65% as promised by Labour and New Zealand First during the election campaign.

That is the New Zealand First caucus position decided this afternoon, and I await your urgent response. You will be aware that by New Zealand First abstaining on such an urgency package, the Labour and Alliance Coalition will have 59 votes, and National, ACT, Greens, and United, 56 votes.

Yours sincerely,

Rt Hon Winston Peters,

Leader,

New Zealand First

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Lender Flt 1yr 2yr 3yr
AIA - Back My Build 4.94 - - -
AIA - Go Home Loans 7.49 5.79 5.49 5.59
ANZ 7.39 6.39 6.19 6.19
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
ANZ Special - 5.79 5.59 5.59
ASB Bank 7.39 5.79 5.49 5.59
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BNZ - Mortgage One 7.54 - - -
BNZ - Rapid Repay 7.54 - - -
BNZ - Std 7.44 5.79 5.59 5.69
BNZ - TotalMoney 7.54 - - -
CFML 321 Loans ▼5.80 - - -
CFML Home Loans ▼6.25 - - -
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CFML Standard Loans ▼8.80 - - -
China Construction Bank - 7.09 6.75 6.49
China Construction Bank Special - - - -
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Co-operative Bank - Owner Occ 6.95 5.79 5.59 5.69
Co-operative Bank - Standard 6.95 6.29 6.09 6.19
Credit Union Auckland 7.70 - - -
First Credit Union Special - 5.99 5.89 -
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Heartland Bank - Reverse Mortgage - - - -
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ICBC 7.49 5.79 5.59 5.59
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Kainga Ora - First Home Buyer Special - - - -
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Kiwibank - Offset 7.25 - - -
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SBS Bank Special - 5.89 5.49 5.69
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SBS FirstHome Combo 4.94 4.89 - -
SBS FirstHome Combo - - - -
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TSB Bank 8.19 6.49 6.39 6.39
TSB Special 7.39 5.69 5.59 5.59
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Unity First Home Buyer special - 5.49 - -
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Median 7.49 5.79 5.69 5.69

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