Government not ruling out KiwiSaver subsidy cut, its $521 contribution

Finance Minister Nicola Willis says she has found “billions” in savings that will be redeployed to new spending in the 2025 Budget. Speaking to Heather du Plessis-Allan Drive, she refused to rule out whether those savings would come from cutting a KiwiSaver subsidy. The Treasury Secretary has spoken about means-testing the subsidy.

Finance Minister Nicola Willis has left the door open to means-testing for large Budget items, including Government KiwiSaver subsidies, as she looks to make savings and chart a path back to surplus. Willis also left the door open to means-testing the Best Start payment for new parents, although this seems less likely, In an interview with Heather du Plessis-Allan Drive on Tuesday, Willis was asked three times whether she could rule out some form of means-testing for the payments. While Willis ruled out changes to the Winter Energy Payment or the Emissions Trading Scheme, she did not rule out changes to KiwiSaver subsidies or Best Start.



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