Treasury questions Cullens credibility in what must be a remarkable example of public servants sailing as close to the wind as they dare in criticising the conduct of a Finance Minister.
Bad enough that his projections are shown to be tissue paper thin, he is admonsished for 'not credibly explaining to the public' the rationale behind them.
This paper is the clearest signal yet that the the ridiculous bribe of $1,040 per year for every contributor for ever and ever is an unsustainable joke. Expect a National led government to shut the door to this folly by stopping the bribe for new entrants and by putting in a sunset clause for existing members. I'd guess about ten years.
So, if you want some professional financial advice, here it is. Get in quick while the going is good.
The best bit of the lot is Cullen admitting that he'll have to cut Gummint spending to fund KiwiSlaver. The Gnats and the Antique Media should gobble him up and spit him out.
No need for an inquiry!
25 minutes ago