[cyc]

http://www.stuff.co.nz/national/poli...er-Fund-u-turn

Labour is scrapping its plans to resume contributions to the Super Fund, saying New Zealanders told the party they were uncomfortable with borrowing to invest and it now understands the need to be thrifty.

Leader David Shearer this morning told the Wellington Employers' Chamber of Commerce Labour had listened.

"We've decided that until we are back in surplus, any new spending will have to be paid for out of existing Budget provisions, new revenue, or by re-prioritising."