Finance Minister Bill English has told Grey Power delegates at their annual meeting in Christchurch that the country's most vulnerable will be protected when the Government brings in tax reform.
Mr English says lower income tax will help strengthen superannuation, and says if GST is increased to 15%, beneficiaries and pensioners will be immediately compensated.
A superannuitant receiving a single pension could expect $10 to $15 more a fortnight as compensation.
Mr English also reassured the meeting the Government will tighten up the financial market to stop the kind of speculation that led to many elderly losing millions of dollars of savings.
