Budget Blow for Retirees

Couples on NZS had been promised $13 a week from tax cuts, but the budget delivered only $4.30, or just $2.15 a week for each retiree. While the Government is trying to reduce costs with significant cuts to the Public Service, it appears that the promise to put money into the pockets of working Kiwis does not apply to retired Kiwis no longer able to work. A Treasury analysis of the Government’s tax cuts reported that the 20% of households with the lowest incomes will receive $13/week, or 1/3 the amount of the top 20% of households! NZ Herald June 11th.

With escalating rents, rates, and energy the squeeze is on older retirees largely dependant on NZS to sustain them. There are more reports of older people having to rely on foodbank parcels to survive. Living in poverty in their 80s. Grey Power is urging the Government to implement practical initiatives to provide affordable appropriate housing options for older people no longer able to work so they can live in dignity in their latter years.