Benefits of mixed ownership
The Government owns about $220 billion of assets, and expects to invest another $34 billion over the next five years. In proposing the ‘Mixed-Ownership’ concept, the Government would own most of a Company, offering minority stake to shareholders.
This would allow investment of about $7 billion in assets such as schools, hospitals, and broadband, reducing need for extra debt.
Kiwi investors would have a chance to own assets in large and proven companies.
Working for Families
Weekly Gain for Low-Income Family: $14.18
Weekly Gain for Average Family: $2.68
Weekly Loss for High Income Family: $12.66
Inland Revenue will contact Working for Families recipients in February 2012 to inform them of their likely entitlement for the 2012-2013year.
For more information, visit www.ird.govt.nz/wff-tax-credits/
KiwiSaver
Number of Members: 1.68 million (May 2011)
New Members each month: 20,000
KiwiSaver will be worth $60 billion by 2022
Changes will ensure its survival
Reduce Government debt by $2.6 billon in four years
Reduce external borrowings to 2% of GDP over ten years
The employer and Government contributions will continue
Student Loans
Amount lent in 2010-2011: $1.58 billion
Amount written off: 45 cents in every dollar
Overdue debt: About 55% living overseas
Changes Made:
Students should pass 50% of their courses over two years
Limited borrowing to seven full-time studying years
Should be Permanent Residents
Australians two years residence
Administration fees
Voluntary Repayment Bonus
|
|
2005 |
2007 |
2008 |
2009 |
2011 |
|
KiwiSaver cost/savings |
$600m cost (over 4 years) |
$3.2bn cost (over 4 yrs) |
$560m net saving (over 5 years) |
– |
$2.6b saving (over 5 years) |
|
Government operating balance (four year forecast) |
+$5bn per annum |
+$5bn to $6bn per annum |
> +$1bn per annum |
-$8bn to $9bn per annum |
-$16.8bn in 2012 year but back in surplus by 2015 year |
KiwiSaver Table by KPMG New Zealand
