Katherine Rich: Business NZ CEO on the potential changes to the KiwiSaver scheme, Budget 2025

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Recorded21 May 2025

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A promise today's budget will deliver real growth for the economy. Finance Minister Nicola Willis is hours away from unveiling her 'No BS Budget', claiming there'll be no frills or excess. The Government's been slowly teasing figures, concentrating on balancing the books through cuts and reprioritisation in spending. Business NZ CEO Katherine Rich told Mike Hosking the government knows its role in business recovery. She says they're the first government in a long time that's methodically looked through what can be done to make things easier. It’s also been teasing changes to the KiwiSaver scheme, with more to be revealed. It's expected to increase KiwiSaver's default contribution rate from the current 3% as well as means-testing its own annual contribution, up to $521 dollars. Rich told Hosking they'll be keeping a close eye on things. She says it depends on how it's phased in over time, so businesses can factor it into wage negotiations and salaries. LISTEN ABOVE See omnystudio.com/listener for privacy information.

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