Auckland

Yesterday’s Budget was unquestionably the biggest ever for the savings industry.

Mercer has applauded the changes to KiwiSaver announced by the Government in today’s budget saying the incentives would promote New Zealanders’ good long term savings habits and substantially increase individual uptake of the KiwiSaver scheme.

ASFONZ is pleased to see the positive steps that are included in the budget to assist those who wish to save to support their retirement lifestyle.

Press release: Finance Minister Michael Cullen said Opposition leader John Key has deliberately exaggerated the net cost to employers of KiwiSaver.

Press release: The Retirement Commissioner says the Government's planned additions to the KiwiSaver scheme now make joining more worthwhile.

Press release: “The Investment Savings and Insurance Association (ISI) applauds the Budget announcements to encourage savings and investment”, said Vance Arkinstall, CEO, Investment Savings & Insurance Association.

As expected, Dr Cullen's eighth Budget delivers a welcome reduction in the corporate tax rate and a tax credit for employees' contributions to KiwiSaver from 1 July 2007 paid directly into their KiwiSaver accounts.

Two bills tabled in Parliament today introduce the Business Tax Reform package and the enhancements to KiwiSaver and associated savings reforms announced in Budget 2007.

Press release: In the wake of the Government's budget announcement yesterday, TOWER Investments CEO Tony Hildyard said today that he was pleased that the new Government initiatives have both raised the profile of KiwiSaver and made it more attractive to investors.

Press release: One group that had a jubilant reaction to Thursday’s Budget was the life insurers whose products dominate the long term savings sector. And they has every right to be ecstatic – Michael Cullen has just naively delivered to them 4 million heads on a plate, Gareth Morgan addresses the issue.

Press release: It is vital New Zealanders save more so we can better deal with our economic and social challenges, which is why Budget 2007 significantly enhances KiwiSaver.

Highlights of the business tax reform package.