National leader Simon Bridges signals superannuation move in economic policy

National leader Simon Bridges says the party will stick with its policy of increasing the superannuation age gradually from 65 to 67, and increasing the required residency from the current 10 years to 20 years.

It would also allow Kiwisaver employer contributions to continue beyond the age of 65 for seniors who remain in the workforce.

The increase in superannuation age would increase by six months from 2037. National stuck to no movement in the super under the eight years of John Key's leadership but changed to aged 67 under Bill English last election.

Launching an economic policy discussion document in Auckland , Bridges also said National would not introduce any new taxes in its first term, reinstate the social investment approach, and reintroduce targets in health, education and law and order.

"The current Government has no plan to grow the economy and is failing to deliver for New Zealanders.

"We're doing the work now in Opposition so we're ready to hit the ground running in 2020."

Finance spokesman Paul Goldsmith said when the age of 65 was set in 2001, a retiree could expect to spend about a fifth of his or her life receiving New Zealand superannuation. That had since increased to about a quarter of their life on average.

Among the other commitments outlined, National would:
• Repeal 100 regulations in its first six months;
• Eliminate two old regulations for every new regulation introduced;
• Require all Government agencies to pay their contractors on time and within 30 days;
• Require Treasury to have greater focus on identifying wasteful spending;
• Consider allowing savers to deduct inflation from their interest income;
• Remove the ability of Government to give preferential pay agreements to union members during public sector wage negotiations;
• Repeal the ban on new offshore oil and gas exploration;
• Repeal the Government's foreign investment changes.
Bridges said National would create a more productive, competitive economy that lifted incomes, lowered the cost of living for New Zealanders and provided responsible economic management that delivered world-class services.

"National understands that strong economy is what puts more in the back pocket of New Zealanders and allows us to invest more in the things that matter to New Zealanders," Bridges said.

Goldsmith said that by reining in wasteful spending and focusing on targeted measurable outcomes, "we can afford tax relief for hardworking New Zealanders."

"We will also aim to reduce our overall debt burden when the economy is growing so there is capacity to borrow when times are tough."

National leader Simon Bridges and finance spokesman Paul Goldsmith. Photo / Mark Mitchell