Hattip: NZ Herald
Some experts have said that total remuneration is fair. However, Mr Mallard said the Government didn't expect to see differences in take-home pay.
So Labour didn't even look across as far as Australia when designing KiwiSaver?
I guess we have seen this before when they have made bold statements that they think they are doing a good job - but sorry this is the height of incompetence and ignorance to which Mallard is admitting.
Also I hope he doesn't believe his line that the Government is reimbursing employers fully for the contribution? I know I predicted that would be the Government line when they put in the phased approach such that before the election the employer contribution had only reached 1% and the tax kickback would match that. But unfortunately despite what Labour thinks of employers we actually do plan to retain our employees for as long as possible and so we do have to think of the 2% next year, the 3% the following year et al.
Just because Labour is too stupid to look ahead and read consequences doesn't mean everyone else is.