- WFF, interest free loans and KiwiSaver costing $5b a year, and why we now have a structural deficit, and all has to be borrowed from overseas
- All changes will take place after election, so there is a mandate for them
- KiwiSaver will be changed so that over time employees and employers contribute more, and the Government less
- KS changes will lead to an improvement in the rate of national savings and reduce foreign debt by 2% of GDP over the decade
- Will reduce amount spent on WFF, but target a greater proportion at the most vulnerable families
- For every $100 of student loans, taxpayers get only $55 back
- Half of the overdue student debt is students living overseas – will make sure they live up to their responsibilities
The exact details will be in the budget. To me it looks like a good step in the right direction.