Michael P Cameron: NZ First wants a compulsory KiwiSaver - Boosting the Super Fund is a better bet

An ageing population not saving fast enough for its retirement has been called a “timebomb” and a looming crisis, with many New Zealanders facing the prospect of hard times when they stop earning.

So, NZ First leader Winston Peters was on the money at his party’s recent annual conference when he pitched a major KiwiSaver overhaul. Under the plan, membership would become compulsory and minimum contributions from both employees and employers would increase to 8% of income, rising to 10% later.

Angus Dowell: Politicians love comparing NZ’s economy to Singapore or Ireland – but it’s simplistic and misleading

Unveiling Amazon Web Services’ long-awaited NZ$7.5 billion “cloud region” – a cluster of local data centres – Prime Minister Christopher Luxon specifically referenced Ireland and Singapore as “two economies we often look to for inspiration on investment and technology”.

This kind of comparison has been a familiar refrain in New Zealand politics. More than a decade ago, then prime minister John Key imagined the country as the “Switzerland of the South Pacific”.

Greg Clydesdale: Captured Ministers and the Government’s Economic Goals

When Helen Clark came to power, she stated that she intended to raise the New Zealand economy to the top half of OECD.  When she came to power, New Zealand was ranked 19th. Not only did we fail to advance but NZ actually went backwards.  By the time she had left, we had fallen to 22nd.  

National have come to power with similar ambitious targets, but can we have faith in the ministers and bureaucrats behind their policy?  To give you an example of the bureaucrat’s ability to deliver innovation and economic growth, I will refer to a policy from the previous government.

Alexander Plum, Kabir Dasgupta: Why a universal basic income might foster wellbeing but not productivity

Labour or leisure? Why a universal basic income might foster wellbeing but not productivity

The current cost-of-living crisis, high interest rates and the ensuing economic contraction have disproportionately hit low-income households. And for many low-income workers, the future remains uncertain.

On top of that, the rise of artificial intelligence may result in significant job redundancies and displacements. And recent employment data for New Zealand has been grim, with a rise in the number of unemployed.

Professor Aaron Gilbert: Want NZ banking to be more competitive? Then make it easier to switch banks

The Commerce Commission’s banking market study has concluded more competition is required to reduce the profits of the big four banks. But the report suggests increasing competition may be ineffective unless customers are easily able and willing to switch between banks.

In 2023, the four Australian banks operating in New Zealand made approximately NZ$7.1 billion in profit, representing $1,400 per person. Despite many customers struggling due to increasing mortgage costs, the banks’ profits rose.