Encouraging small business startups

The Herald reports:

National Party leader Judith Collins has revealed Kiwis wanting to start a business will be able to access up to $20,000 from KiwiSaver under its small-business policy.

She told Mike Hosking on Newstalk ZB this morning that the money belonged to people yet they couldn’t access it.

“The rainy day is here now but they need to have that start. It’s their money so why can’t they use it?”

The policy is intended to involve measures to make it easier for people who have lost jobs through the Covid-19 economic downturn to start a business.

Collins explained the National policy was about creating a way for cash-strapped people who had lost their job in the wake of the Covid lockdown to get businesses going with their retirement funds.

This is an excellent policy. Just as you can use your KiwiSaver to help you buy a house, this will mean you can also use it to help you start up your own business.