| Multi-Party Agreement Essential for Savings Success |
FOR THE ATTENTION OF THE BUSINESS EDITOR
16 December, 1998
"The Investment Savings and Insurance Association is
pleased that Government in last weeks Budget Policy Statement 1999, identified the need to
encourage savings and investment within a stable and neutral environment as one of its key
priorities. The ISI has been pressing politicians on the urgency and need for clear long
term sustainable policies that have broad-based political and public support," said
Vance Arkinstall, Acting Chief Executive of the Investment Savings and Insurance
Association.
"Research provides compelling evidence that whilst
many New Zealanders recognise the need to save, a substantial number do not have
sufficient confidence in current Government policies to commit to a long term savings
plan. The industry is encouraged that Government have clearly signalled the strategic
priority of savings. There is a real need for certainty in order to build the confidence
of those who need to save. We hope that this will extend to the early removal of tax
barriers to savings for low income earners," said Mr Arkinstall.
"We expect that Government will shortly announce the
appointments to the Superannuation Taskforce 2000. This will be a further positive step
towards addressing the current uncertainty surrounding superannuation saving and
developing an accepted policy."
"We encourage all political parties to put aside
their political differences to support the Taskforce and earnestly channel their energy
towards a multi-party policy that is sustainable and that we can all work with. The public
are fed up with the constant bickering and lack of progress that has characterised
politicians involvement in this issue to date," said Mr Arkinstall.
For further information contact:
Vance Arkinstall
Acting Chief Executive
Investment Savings and Insurance Association
