6 Jul 2009

Treasury told super contributions wouldn't affect credit rating

6:16 am on 6 July 2009

Treasury officials advised the National-led Government that stopping contributions to the New Zealand Superannuation Fund would not help the country's credit rating.

Papers obtained by Radio New Zealand under the Official Information Act reveal Treasury said stopping contributions to the fund would not change the Government's net worth.

The papers say that it therefore should not be seen as a measure to help the credit rating.

However, theTreasury still supported the proposal and it was included in the May budget.

It said stopping the contributions could be useful as part of a wider package aimed at ensuring the Government did not go too deeply into debt.