The ACT Party leader David Seymour has floated dishing out $500 to every year 11 student for an investment account, to promote investing at a younger age.
It was not an ACT policy “yet”, he said.
Seymour said the idea could be funded by taking about five percent, or $30 million, of the $600 million annual KiwiSaver subsidy – the government’s $260 contribution to people’s KiwiSaver accounts.
“I think most people would say that’s a bargain,” he said.
“For a relatively modest amount of money, we could give a generation a practical introduction to saving, investing, ownership, and financial responsibility."
Using actual money, rather than a simulator, means students have “skin in the game” and would be more motivated, Seymour said.
I think this is a great idea. I already chat to my kids about the benefits of saving, and even give them an incentive that if they have any chore money unspent at the end of the month, I will match them dollar for dollar if they save it rather than spend it.
David Farrar runs Curia Market Research, a specialist opinion polling and research agency, and the popular Kiwiblog where this article was sourced. He previously worked in the Parliament for eight years, serving two National Party Prime Ministers and three Opposition.
7 comments:
It's NOT the governments job to handout FREE MONEY.
I would not vote for any politician who advocates such crap.
A government SHOULD NOT act as anyone's mother - That pocket money BELONGS to the TAXPAYER.
I would have thought we learned this already.
ACT seem intent on emulating the last mob of fools and their brand of "aunties kindness".
One of the sillier schemes proposed by a political party. How will this help the country? Will this relatively small amount be inaccessible? Students should learn the work ethic not be given handouts.
Socialism & absurdity from Act - who would have thought!
Giving kids a handout to teach them the value of the $ is a contradiction in terms.
How about Act focuses on creating the economic conditions where kids can get the part-time jobs we all easily walked into, so that they earn the $500 to then save & invest.
The only way you truly value the power of the $ is by earning it.
But Seymour would know this - so does this mean he’s simply a trogon horse for socialism? Based on this idiocy, I’d say yes!
I'm blowed if I can see the connection with socialism. If anything there is a connection with capitalism through investing the money with a view to increasing capital.
Perhaps Anon 1112 can give us examples of socialist states giving people money for nothing. Or perhaps he reads too much American stuff and doesn't know what socialism is.
A bold and innovative idea. if you read carefully you find that there are many safeguards to this free money. It truly is a piece of learning equipment which pupils may use - like a gym or a laptop - a wonderful incentive. And costing a lot less, I'll bet, than many less real programs cited as education. Good on you David.
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