$1m advertising budget to promote super fund

The Government will spend $1 million advertising its proposed superannuation fund.

Finance Minister Michael Cullen said yesterday that the New Zealand Superannuation Fund was one of the biggest and most significant policies enacted by Parliament in many years.

"It carries big implications for fiscal management, and for the level of security New Zealanders can expect in retirement. It is important people know what is involved."

Dr Cullen said the campaign was "strictly informational in nature", and would feature a household leaflet drop supported by television advertising. It was scheduled for early next year.

The campaign had a budget of about $1 million and would be run from the Treasury.

Act MP Rodney Hide said the campaign was a waste of money and warned that it had "better stick to the facts, not propaganda".

"The Government has jammed the fund through Parliament without care for what the public think.

"I will be scrutinising most rigorously Treasury's 'information' campaign on behalf of their political master."

- NZPA