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Prime Minister John Key has described as "panicked'' the Labour Party's plan to raise the age of eligibility for NZ Super to 67 and to make KiwiSaver compulsory.

Any working-aged New Zealanders not already in KiwiSaver will be automatically enrolled in the scheme in a bid to improve the country's savings - but not until the 2014/2015 financial year.

The Government is hitting the brakes on New Zealand's Emissions Trading Scheme, delaying full entry of the energy, transport and industrial sectors and saying agricultural emissions will only be included if technologies are available to enable reduce the burden on farmers.