25 Aug 2011

ACT leader critical of National

12:17 pm on 25 August 2011

ACT leader Don Brash has criticised National for keeping Labour Party 'bribes' of interest- free student loans and KiwiSaver.

Dr Brash delivered a broad ranging speech about ACT's economic policies to a workplace savings conference in Auckland on Thursday.

He told the audience he can't understand why an average wage earner in South Auckland should be subsidising the cost of tertiary education for the children of doctors and lawyers.

Interest free loans were introduced by Labour after the 2005 election. The Labour Government also created KiwiSaver, which has generous government contributions.

Dr Brash questions the merit of KiwiSaver, saying that while it may have increased private savings slightly, the government actually has to borrow more to cover those contributions.

Dr Brash also reiterated core ACT policies of lower taxes and a cut to government spending.

He said that if the required cuts could be made, the corporate tax rate could be slashed to 10% or 15% personal and trust rates to 28%.

Dr Brash also wants to abolish the minimum wage for anyone under 20, scrap the Emissions Trading Scheme and raise the age of eligibility for national superannuation.