What impact do you think the change of Government will have on the financial advice sector:
- A positive impact (64%)
- Little-to-no change (19%)
- Not sure yet (14%)
- A negative impact (3%)
Loading ...With the Labour Government soon to hand over control of the country to a National-led administration – following the weekend’s General Election result – Labour’s proposed Income Insurance Scheme is dead in the water.
The scheme, floated by Finance Minister Grant Robertson in 2022, was put into dry dock until 2024 following industry lobbying.
A poll carried out by RiskinfoNZ last year showed overwhelming negative sentiment for the scheme, with 80% of those who cast a vote indicating they did not support it.
And while the make-up of the next Government won’t be set until Friday 3 November, due to 500,000 special votes still having to be counted, it’s certain it will be a National-led government supported by Act.
See our report: Income Insurance Scheme Delayed Until 2024.