Superannuation

Press, 28 January 1988, Page 12

Superannuation

Sir,—The late, and unlamented Dr Goebbels often stated that if you tell a lie often enough it will become accepted as the truth. Watching, and listening to Roger Douglas on television’s “Midweek” on Wednesday last I was'struck by the similarity of technique used by him in his arguments for the Government’s proposed actions over superannuation schemes. One thing that is painfully obvious is that he has no conception of the effect of his policies on the ordinary citizens — those who make up the bulk of contributors to superannuation schemes and whose carefully laid plans for retirement have now been thrown into disarray. Disraeli said that there are three kinds of lies: lies, damned lies, and statistics. I doubt that Mr Douglas is a latter-day Disraeli, but his Goebbelian use of statistics to promote his statements does not necessarily mean that his statements will be accepted as the truth; nor does it follow that his policies will be accepted. — Yours, etc., K. G. TALBOT. January 25, 1988.

Sir,—On the one hand we have a minister telling us that national superannuation cannot be sustained in its present form. On the other (as of December 17 last), we are told that if the employer assists the funding of retirement planning he will be

levied a non-deductible tax to dissuade him. That smacks of Iron Curtain country tactics. Let us look at the scenario if the life offices and pension funds move their money off shore — the stockmarket crash of 1987 will be like a teddy bear’s picnic. Mr Douglas will not have to worry about his deficit, we will be a banana republic. A recommendation; consult while you can.— Yours, etc., E. L. HARRISON-SMITH. January 22, 1988.