INDEPENDENT NEWS

New numbers bury Cullen's 'bones'

Published: Fri 12 May 2000 03:51 PM
Bill English
Opposition Finance Spokesperson
12 May 2000
New numbers bury Cullen's 'bones'
Numbers released from the Treasury today not only take the glow off the so-called radioactive pile of bones, but bury them back where they belong, Opposition Finance spokesperson Bill English said today.
Treasury today estimated an operating surplus of $1.8 billion for the nine months to March, a whopping $781 million ahead of the forecasts detailed in last year's PREFU.
"The $400 million surplus Dr Cullen flagged in the Budget Policy Statement will now be significantly higher.
"The numbers speak for themselves. Taxation revenue is $360 million ahead of forecast - that's even before the Government's tax increases come into effect - and expenses $177 million below forecast.
"This brings the curtain down on Dr Cullen's attempt at fiscal theatre.
"New Zealand's financial situation continues to strengthen on the back of the strong state of the New Zealand economy at the end of 1999.
"There is absolutely nothing for Dr Cullen to complain about. An incoming Government has never been in such a fortunate position.
"The only problem Dr Cullen seems to be having is managing expectations of his own caucus.
"According to these numbers there is no reason for the Labour/Alliance Government to hold back on their spending commitments."
Ends

Next in New Zealand politics

On The Political Donations Scandals
By: Gordon Campbell
New Zealand: Housing Crisis Requires Bold Human Rights Response, Says UN Expert
By: UN Special Rapporteur
National’s Economic Plan For 2020 And Beyond
By: New Zealand National Party
Abortion Legislation Bill Report Presented To The House
By: Abortion Legislation Committee
Auditor-General's Report Published - Reflecting On Our Work About Water Management
By: Office of the Auditor-General
Statement Of Jami-lee Ross - "Spoke Up Now Set Up"
By: Jami-Lee Ross
Foreign donation loophole still wide open
By: Jami-Lee Ross
Jacinda Ardern Tries To Soothe Virus Rift With China
By: RNZ
Coronavirus: Expert Warns More Flights Could Be Cancelled
By: RNZ
National Party Donations Case: 'I Am Now Being Painted As The Scapegoat' - Jami-Lee Ross
By: RNZ
'We Need To Apply Natural Justice' - PM On NZ First Foundation Investigation
By: RNZ
Not One, But Two $100k Donations To National In Court
By: RNZ
National Donations SFO Charge Details A Surprise - Bridges
By: RNZ
PM Jacinda Ardern Washes Hands Of NZ First Foundation Photos Saga
By: RNZ
Simon Bridges Says NZ First Foundation Investigation Should Be SFO Priority
By: RNZ
View as: DESKTOP | MOBILEWe're in BETA! Send Feedback © Scoop Media