Michael Littlewood’s ‘Guest Post’ for David Farrar on pensions, and his belief that our social welfare system is fit for purpose and doesn’t need change, reminded me of why New Zealand is currently well on the way to bankruptcy, and why our brightest young people are leaving the country in droves.
It all started in earnest when Sir Robert Muldoon and the National party in 1976, voted in one of the most generous retirement pension systems anywhere in the world, if not the most generous. They did so without voting in the taxes needed to pay for such a generous scheme.