Summarised by Centrist
Richard Prebble says Winston Peters has found his true calling as foreign minister, showing skill at the UN, but argues the real test is whether he shows the same courage in domestic policy.
Prebble recalls Peters’ past decision to end the superannuation surcharge, saying it has left public finances weaker. “My back-of-the-envelope analysis shows that if the surcharge had continued then the Government accounts would now be improved by around $45 billion,” he writes. Treasury’s long-term forecasts, he warns, point to “a debt death spiral.”
He says bold reform is unavoidable. “Today’s Super is unsustainable. Now we must adopt one or all of the following: a savings-based Super, raising the pension age and restoring the surcharge.”
Prebble links this back to Peters directly: “Peters smashed the accord on superannuation. Peters needs to fix it.” He adds: “It will take leadership that is courageous to avert a debt crisis.”
While courage in foreign affairs is valuable, Prebble says, “courage in domestic policy is indispensable. Gestures are not enough—at home, as abroad.”
