Tables showing the indicative balances that could be expected with the Kiwisaver programme announced in the Budget

Wellington

Russell Investment Group examines the impact on tax changes announced in the Budget and asks if they are good.

The government has been struggling with a number of issues with how to get New Zealanders saving. To some extent Dr Cullen has in his 2005 budget speech sought to alleviate some of these concerns.

Tax specialist Roger Thompson of Staples Rodway says the government has missed out on an important opportunity to help New Zealanders save for their retirement.

The designer of a radical proposal to encourage people to save more says the Government's savings policy outlined in today's budget was a "positive start".

The Government’s savings initiatives outlined in today’s Budget address by Finance Minister Michael Cullen have received the thumbs up from financial services company ING New Zealand.

"Budget 2005 will help New Zealanders to save, giving them greater security and choice and strengthening the economy," says Finance Minister Michael Cullen.

The creation of KiwiSaver complements the government's commitment to ensuring New Zealanders can enjoy a decent income when they retire, says Finance Minister Michael Cullen.

"The Kiwi dream of owning your own home will be brought within the grasp of thousands more New Zealanders each year as a result of Budget 2005," says Housing Minister Steve Maharey.

Rozanna Wozniak, chief economic adviser to Spicers Wealth Managment says the Kiwi Savers scheme as proposed in the Budget will be ignored by most NZers.

The Retirement Commissioner Diana Crossan welcomes the Government’s work based savings initiative as a positive step which offers New Zealanders an easy way to save.

Savings industry is pleased that call for taxation neutrality has been answered.

The New Zealand residential property market experienced its traditionally “soft” month during April, according to the president of the Real Estate Institute of New Zealand, Howard Morley.