Derek Cheng writes:
National would be expected to come up with something juicy with the financial freedom – $300m to $500m a year – that would flow from axing the Government’s fees-free scheme.
And Education Saver certainly is that – an account for every Kiwi from the start of primary school that would see an annual Crown contribution, with possible contributions from parents or businesses.
Singapore has schemes like these for health and education. The idea is that if the account is in your name and control (and is limited) you will be far more careful in choosing how to spend it, than if it is simply a taxpayer subsidy.