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Deeper and deeper, Dumber and dumber.National desperate choosing Muldoon/Collins.
At least Nikki Kaye has seen a better future for herself elsewhere.
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Allowing people to withdraw $20,000 from their Kiwisaver accounts to start a small business (plus a $1000 voucher to see an accountant). What an absolutely daft amateurish poorly thought out policy.
Prime example, remember back when all those Telecom employees ( & others) who lost their jobs, used their redundancy payouts to start a small business, & how most of them fell over within the first 24 months, losing all their money.
So depressing & predictable.
Just result in more people unable to support themselves & dependent on the state.
Kiwisaver needs to be untouchable (with only exception with conditions to help buy a home to live in) & last thing we need is a Nat govt fiddling with it
Totally agree with this. You should never be able to touch your Kiwisaver before 65 (or whatever the age is at the time). It is there for retirement, nothing else. I would go as far that if you use it to purchase your first home (good), if you subsequently sell that home and not purchase another, then you should re pay that to Kiwisaver.
This is a very poorly thought out plan. Now is not the time for people with no business experience or knowledge to be setting up businesses. They will use their KiwiSaver to set up small businesses such as window washing, coffee carts, lawn mowing and will not be able to compete with existing businesses. They will crash and burn and will then have no KiwiSaver for their future retirement.
Just a typical National election "carrot" with no thought for the consequences.
There should be two schemes if you want to be able to use one as a house deposit savings scheme - a savings scheme and a pension scheme. Otherwise it defeats the purpose of saving for retirement. Also, If you can dip into it in order to buy housing, why not use it to buy other investments or a business. In this day and age, Why favour housing over other forms of investment? After all at least other investments can provide taxable income unlike the investment in owner-occupied housing..
And how about some decent policies to provide sufficient affordable housing for NZ’s growing population. Then there would be less need to raid any pension scheme to be able to afford a first home.