Under 40s need ACT for long term thinking

act-new-zealand

Sun May 04 2014 12:00:00 GMT+1200 (New Zealand Standard Time)

Under 40s need ACT for long term thinking

Sunday, 4 May 2014, 3:28 pm
Press Release: ACT New Zealand

Bill English’s comments this morning that National Super can be afforded “for the time being” show why centre right voters under 40 must vote ACT, says the party’s leader Jamie Whyte.

"At National's northern conference this morning, Bill English justified inaction on the superannuation age by saying that we can afford it 'for the time being'. He was reported as saying that the budget will be in surplus for 2015.

“There is a double irony: Announcing a future age raise would not affect this or next year’s budgets, so this year’s surplus is not relevant. It would, however, affect budgets in coming decades, which the Treasury forecasts will be heavily back in deficit due to population ageing.

"The Treasury has forecast that if we do not make changes, government debt will reach around 200 per cent of GDP by the time current students are retiring. That may be many years away, but it is irresponsible to ignore it for that reason. The sooner we start planning ahead, the less painful the inevitable adjustment will be.

"Australia's Treasurer has promised to raise their age to 70 by 2035. New Zealand needs to start thinking that far ahead ahead too.

"It's not Key and English's generation who will face the consequences of our short-sighted spending policies. Instead, it's today's under forties who will find themselves having to pick up the tab. Under forties who want centre right government should vote ACT for long term thinking."

ENDS

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