The opposition National Party in New Zealand has promised tax incentives for long term savers if they are elected to government.
According to party leader Bill English, New Zealand taxpayers in long term locked-in savings schemes would be offered a rebate of between 10 and 20 cents in the dollar under a National government.
Mr English said that although the exact details of how, when and where to implement the tax break were still being discussed, something concrete was needed to replace the government's superannuation scheme, which he condemned as 'falling into disarray'.
He criticised Finance Minister Michael Cullen for not providing the nation's young people with an incentive to save, and warned that people should not feel that they did not have to save because the government was doing it for them through superannuation schemes.
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