National to offer tax incentives for long-term savers
The National Party says it will offer tax incentives for savings, a week after the Government released Treasury papers saying it can't afford them.
Friday, February 8th 2002, 3:50PM
by Bill English
An incoming National Government will introduce tax incentives to encourage people into longer term savings, National leader Bill English says.
English says the incentives will take the form of an upfront rebate on contributions made to a locked-in savings scheme, which will be subject to a cap.
"This policy is aimed at boosting New Zealanders' long-term savings. National considers that offering tax incentives is the best option to encourage people, particularly young New Zealanders, to save for their retirements.
English says the Labour/Alliance superannuation policy is falling into disarray.
"Michael Cullen's super fund is being increasingly discredited as people become more and more aware of its faults. Meanwhile, Dr Cullen has ruled out the option of tax incentives for long term savings plans."
"National believes in encouraging people to save for themselves - rather than having the Government dictate that it will do it for them."
This is a press release from the National Party.
Bill English is the deputy leader of National and the party's spokesman on finance and superannuation.
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