logo
Government Must Deliver On KiwiSaver Promise For Young Farmers

Government Must Deliver On KiwiSaver Promise For Young Farmers

Scoop20-05-2025

Press Release – Federated Farmers
Federated Farmers dairy chair Richard McIntyre says young farmers across the country are being held back by outdated rules that don't reflect the reality of farm ownership or rural employment.
Federated Farmers is calling on the Government to deliver on National's pre-election promise to change KiwiSaver rules to help young farmers get their foot on the farming ladder.
On the eve of the 2023 election National pledged that, if elected to Government, they would allow young farmers to use their KiwiSaver to buy their first home, farm, herd or flock.
'They made that campaign promise in Morrinsville, but 18 months later there has been no action,' says Federated Farmers dairy chair Richard McIntyre.
'The announcement was incredibly popular, particularly among the next generation of farmers, but also with older farmers who are looking for succession pathways.
'There are a lot of people out there waiting for these changes to be made, so it's important they follow through and deliver on their promise.'
While National MP Suze Redmayne has since submitted a Members' Bill that would address some of the issues young farmers face, McIntyre says that isn't enough.
'It's great that Suze has put forward a bill – but it's one of more than 70 others in the Members' Ballot. It's effectively a raffle and the bill may never be drawn.
'That aside, having a Members' Bill in the biscuit tin doesn't even come close to delivering on their campaign promise. It needs to be picked up as a Government Bill.
'To make that happen, we need the Minister of Agriculture, and all rural MPs, to really get in behind farmers and push hard on this issue. They should be championing the cause.'
McIntyre says young farmers across the country are being held back by outdated rules that don't reflect the reality of farm ownership or rural employment.
'These rules are holding young farmers back years in their career progression as they scrimp and save every dollar to get on the ladder, particularly for sharemilkers and contract milkers.
'I understand that KiwiSaver is about saving for retirement, but for these young farmers, owning a farm, herd or flock is going to be what sets them up for their later years.
'These are ambitious young people who are trying to build a future in farming, who just need the Government to get out of their way and allow them to access their own savings to invest in their future.
'A change in policy would give them a tangible pathway towards ownership and investment in agriculture – something the next generation of farmers desperately needs to see.'
McIntyre says changing the rules would help level the playing field for young farmers and encourage greater use of KiwiSaver.
'A lot of young people in towns get into KiwiSaver because they know they can use it as a great way to build a deposit for their first house. 'In their early years, that's effectively what they're doing – not saving for their retirement.
'On the other hand, so many young farmers don't use KiwiSaver because they know they're not allowed to access that for their first home, farm, herd, or flock.
'They won't be able to use those savings until their retirement, whereas there are really important things they need to invest in early in their careers, long before retirement age.
'It's an unfair playing field and young farmers are missing out on a key step towards growing their long-term wealth.'
Federated Farmers are strongly calling on the National-led Government to deliver on this campaign promise and show their support for the next generation of farmers.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Additional Funding To Attract 72,000 More Visitors To New Zealand
Additional Funding To Attract 72,000 More Visitors To New Zealand

Scoop

timean hour ago

  • Scoop

Additional Funding To Attract 72,000 More Visitors To New Zealand

Minister for Tourism and Hospitality A new $13.5 million investment in international tourism marketing is expected to deliver an extra 72,000 international visitors to our shores, Tourism and Hospitality Minister Louise Upston says. 'The additional funding into Tourism New Zealand will drive international visitor numbers and will be targeted towards our core markets of Australia, the United States and China over the next few years' Louise Upston says. 'We know how important marketing is to attract visitors, with around 14 per cent of international holiday visitors directly influenced by Tourism New Zealand's marketing activity. 'This is the first investment in the Government's Tourism Growth Roadmap, which sets out a series of Government initiatives and investments for the Government and industry to work together to double the value of tourism exports by 2034. 'International visitors bring billions of dollars into the economy and these markets are the driving force behind our tourism sector. 'This investment is expected to generate around $300 million in spending, which is a very strong return on investment. International visitor numbers continue to climb and this boost will help drive further economic growth throughout the entire country. 'Encouraging more visitors means more people staying in our hotels, eating in our cafés, spending in our shops and visiting our attractions. This creates jobs and drives economic growth. 'We want people to know New Zealand is open for business and we welcome visitors with open arms.' Funding comes from the International Visitor Conservation and Tourism Levy (IVL) for 2025/26.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store