[The Wrap] Nats' KiwiSaver policy nuts
During the week it announced, a so-called Covid-19 recovery programme which would let the newly-unemployed draw down $20,000 from their KiwiSaver accounts to start a new business.
The BusinessStart scheme would also provide tax credits worth up to $10,000 that people who had lost their jobs since March could invest in their venture.
There's one word to sum this policy up with. Nuts.
KiwiSaver was established as a retirement savings scheme with members' money locked in until they are 65. (Unless they qualify for a hardship benefit or use it for a first-home purchase).
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