Slash super to pay for Universal Basic Income - Gareth Morgan

Opportunities Party leader Gareth Morgan says he doesn't support raising the age of superannuation, but he does want means-testing to restrict higher-income earners who don't need it.

He also told The Nation under his policy everyone would get a Universal Basic Income (UBI) of $10,000 a year, paid for by slashing current super entitlements. 

"I've got to get the money for it from somewhere," he says. "And at the moment, the only universal benefit that I can see out there is super... so the first thing to do with super is to means-test it." 

He says superannuation could then work as a top-up to the UBI, depending on one's total income.

"We've got people with young families who are at the bottom end of this inequality gap and this poverty thing and this unaffordability of housing. I mean, what are we doing? This is just insane."

He also came to the defence of the baby boomer generation. Last week Prime Minister Bill English announced plans to raise the superannuation eligibility age from 65 to 67 by 2040 - raising eyebrows, as that's when the last of the boomer generation will have moved into retirement.

"When I talk to oldies like me, they are ready to invest in their grandkids. So it's a myth to actually say that the boomers want it all to ourselves."

The millionaire businessman, who has compared his anti-establishment stance to Donald Trump, says he's not getting into politics for a job but to get some fresh ideas into Parliament. 

"I mean, basically what Bill English announced was a policy that's not a policy. I'll be 76 by the time that thing even starts, so he's not actually facing up to the problem... I mean, these guys, these establishment parties full of these career politicians specialise in doing nothing."

Mr Morgan, 64, says younger voters need to "get off their butts" and vote. 

He says his party did a poll on what would get voters to the polling booth, and the top issue was cannabis law reform. Their negligence about issues like superannuation is part of the problem, he says.

On cannabis law reform, he says his party still needs to discuss it. 

Newshub.

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