Greens savings plan a 'real game-changer'

Photo / Supplied

A proposed Green Party savings plan would be a real "game-changer" for children in light of the government's budget this year, co-leader Metiria Turei says.

The Green Party announced its national savings scheme policy today - less than a week before the government's annual spending plan announcement on Thursday.

The upcoming budget announcement was unlikely to offer New Zealand children a lot, Mrs Turei said.

A proposed Green Party savings plan would be a real "game-changer" for children in light of the government's budget this year, co-leader Metiria Turei says. Photo / Supplied

"National has lost touch with the real lives of many New Zealanders and the upcoming budget is unlikely to offer their children much hope," she said.

"Most families today don't have enough income to save and build wealth and National is doing nothing to help them."

The Green Party policy, called Kids' KiwiSaver, would provide newborns a kick-start deposit of $1,000, on-going contributions and savings-matching incentives.

Children would be able to save about $12,900 by the age of 18 for tertiary education, a first home deposit or retirement plans. It would cost the government $224 million in the first three years.

Mrs Turei said it was about enabling children to make the best start in life.

"By building the wealth of our kids, we can empower the next generation of New Zealanders to invest in their education and homes to help them build the future they deserve," she said.

"It's game-changing."

- NZME