Andrew Bayly: Commerce Minister on the potential for Kiwisaver funds to be invested in more local businesses
The Government wants people to be able to invest their KiwiSaver funds more in local businesses.
Most Kiwisaver funds are currently invested overseas markets.
Commerce Minister Andrew Bayly has announced plans to loosen the rules to allow for more investment in private assets, infrastructure projects, and environmental projects.
He told Heather du Plessis-Allan it will unlock capital to support the local economy, and it won't be a free-for-all.
Bayly says the choice of assets would still be determined by the KiwiSaver provider.
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