June 18, 2014
Tax break sought in super plan
New Zealand First leader Winston Peters says Labour is stealing his compulsory superannuation idea, without the tax breaks.
Labour wants everyone but the lowest-paid workers to put aside 9 per cent of their income for retirement savings.
Mr Peters says Maori embraced his superannuation policy when it was put to a referendum, even if the rest of New Zealand did not.
"We offered a tax break to make it painless. So we give you a tax break you put it in your personal account in your name and you get it when you retire.That was the difference but whats happening here is its going to make it compulsory but its no tax break and the question is going to become well can people afford that" says Winston Peters
FOR THE FULL INTERVIEW WITH WINSTON PETERS CLICK ON THE LINK
Copyright © 2014, UMA Broadcasting Ltd