Brian Gaynor: Costing the benefits shows we’re sinking
Posted in Current Thinking on November 24th, 2011 by admin – 1 CommentThe response to last week’s column, which argued that our universal New Zealand Superannuation is not sustainable in its present form, indicates New Zealand is heading down the same route as Greece, Italy, Portugal, Spain and France.
The basic problem is that successive governments, National and Labour, have introduced a plethora of welfare-entitlements financed through current taxation or borrowings.