New Zealand First leader Winston Peters says the Finance Minister made an "unfortunate mistake" when she made comments about superannuation during the Budget-lock up.
He also queried whether the concerns about the superannuation were because "you don't know how to run an economy with enough wealth creation."
Nicola Willis said any party that ignores the size of the problem is doing so for its own benefit.
Her comments were a clear dig at her coalition partner NZ First and chief opposition party, Labour, both of which are clear they won't make changes.
The annual cost of superannuation will rise to more than $30 billion by 2030 - up from less than $20b in 2023.
"This is not a tomorrow problem, it's for today," Willis said.
"People often talk about the rising super bill as if it's something in the future. It's happening right now."
But Peters, speaking after the Budget was released, told reporters that making the comments was an "unfortunate mistake that she should not have made".
"I don't know why she said it, because not only was it the wrong time to say it, but what she said was wrong."
"If it's only 5.2% not 7, 8, 9, 10 percent like in some countries, then why have you got this concern.
"Or is it because you don't know how to run an economy with enough wealth creation, so that we're going forward and growing at 4, 5, and 6% which is what we'll be doing if we ever get a chance to run this economy."
He said for the last 40 years "they've demonstrated they can't run the economy their way properly", saying at a different time when "people thought more like New Zealand First," the growth rate in the economy was running at a higher rate.
Asked whether he meant the finance minister couldn't run the economy, Peters rejected that.
He clarified the ideology of some parties meant "there is no chance for us to be the country we once were".
"So we need a new ideology, and the only party that's got that ideology, you're talking to."
Peters said his party had backed the New Zealand Super Fund 20 years ago for its original purpose, to "smooth out the edges of high cost at future age".
He suspected there was an intention to take the fund and privatise it.
Asked if it was appropriate for Willis to raise the superannuation debate in her Budget, Peters said "she was doing very fine until then".
"It's a sad point of her preparation."
This story was first published on rnz.co.nz |  |
