PR: Greens To Abstain On Super

The Green Party says they support super being a universal entitlement, but they won't vote on the Government's super bill.

Wednesday, December 13th 2000, 10:03PM

Green Party co-leader Jeanette Fitzsimons today said that while the Greens strongly support the principle of universal superannuation, they would abstain on the first reading of the New Zealand Superannuation Bill.

Ms Fitzsimons said the Greens had scheduled a special caucus debate for next Tuesday to discuss the issue but changes to the House schedule now meant that was impossible.

"The Government will clearly have the numbers to introduce this bill and send it to Select Committee. We will reserve our position in the meantime," said Ms Fitzsimons.

"The Greens believe it is very important for older people to feel there will be security for them when they can no longer work and we fully supported the increase in the level of super earlier this year."

However Ms Fitzsimons said the proposed pre-funding system would result in the largest investment fund in New Zealand's history. How it is invested is crucial in determining the future shape of our economy.

"We believe that this fund should be invested in a way which enhances sustainable development instead of perpetuating multinational control of our economy or undermining our economic sovereignty," she said.

"We would also very much like to see a good chunk of of this fund invested in New Zealand so that our own businesses and enterprises can benefit."

Ms Fitzsimons said the Greens were concerned that without criteria in place to ensure the fund was chanelled into positive enterprises the fund could have a distortionary impact on our domestic economy.

"There also needs to be wide recognition that locking in pre-funding may prevent us from providing adequately for the needs of children and young people if economic times become more difficult.

"How we provide for both our children and our retired people in the future needs to be widely and thoroughly debated by the public and by all parties. We hope this will occur in the Select Committee," said Ms Fitzsimons.

« PR: Cullen welcomes Nat support

AMP & Good Returns launch superannuation website »

Special Offers