He has interviews with the Nikkei and Nihon Keizai Shimbun and others. He also has meeting with JP Morgan, Moody's Investor Services and the NY Federal Reserve. Dr Cullen is attending a high level UN Economic and Social Council and the British Chancellor of the Exchequer. Many New Zealanders have warmly responded to the Government's intention to partially pre-fund the future costs of super' through a targeted NZ Superannuation Fund. There is a clear recognition at almost every level of New Zealand society that something must be done and be done quickly.
People are sick of politicians dumping the issue in the too hard basket.
The aging of the population poses a huge policy challenge for the Government. One of the reasons the country is able to run budget surpluses now is that the baby boomers are in the late 40s to early 60s. They are often at the height of the careers and are paying much more to the Government in tax than they are taking out in social services. But when the baby boom generation begins to retire that position will be suddenly and dramatically reversed. The tax base will shrink and there will be more people reliant on the support of the tax dollar.