Wednesday, May 25, 2011

Key lied on KiwiSaver

Last week, John Key cut KiwiSaver. But he claimed he was keeping his election promise not to change the scheme [PDF] because the changes wouldn't kick in until after the election.

He lied. And its right there in black and white in the law: section 7, which halves the member tax credit, comes into force from 1 July this year, and

appl[ies] for calculating a tax credit for the year starting on 1 July 2011 and later years.
Tax credits are paid at the end of a tax year, but accrue daily. So National are cutting KiwiSaver before the election, and stealing your tax credits every day from July. Its not what was promised, and its not what they said they were doing. I guess they thought that no-one would notice, and that they could bury it with some clever spin.

This is a foretaste of what is to come if National wins a second term: not just the cuts, but the deceit, the fundamental contempt for the electorate. If you want to stop that from happening, you know how to vote in November.