INDEPENDENT NEWS

The Fudge It Budget: Sweet, Sickly - No Substance

Published: Thu 23 May 2002 03:46 PM
Thursday 23 May 2002
ACT's Finance Spokesman Rodney Hide today labelled Finance Minister Michael Cullen's Budget the "Fudge It Budget".
"The Budget's sweet and sickly but has no substance.
Dr Cullen has again failed to prioritise spending or attend to the basic functions of government.
"The Budget is a failure on Dr Cullen's own measure of trying to achieve four percent sustainable growth. The Budget forecasts for the next four years are only 3.1 percent twice and then 2.8 percent twice. The projected growth rate out ten years falls from 2.4 percent to just 2 percent. Growth has fallen under Dr Cullen despite the best of economic conditions for years.
"The Budget sprays money about without purpose or rationale. The top rate of 39 cents remains punishing financially successful to the detriment of us all. The two billion dollars being locked up in the dopey state-run super fund applied to tax cuts would drop the top rate of company and personal tax to 28 cents. That would boost the economy and make a real difference.
"The Fudge It Budget provides nothing to combat rising crime. There is nothing in this Budget to provide the level of protection that New Zealanders are demanding in our homes, streets and places of work.
"The Budget accounts show that there was no financial reason to disband the combat air wing and cripple New Zealand's Defence capacity. That was driven by ideology not financial pressure. The Labour-Alliance Government is failing in the first duty of any government which is to protect the citizenry.
"The Fudge It Budget shows that under Dr Cullen everyone is paying more but getting less," Mr Hide said.
ENDS

Next in New Zealand politics

On Whether This Election Is Already A Foregone Conclusion
By: Gordon Campbell
Newshub-Reid Research Poll Shows National Rising But Labour Still Governing Alone
By: Mediaworks
SFO Files Charges In Relation To NZ First Foundation Donations
By: Serious Fraud Office
Business Leaders’ Confidence Tanks As Top Kiwi CEOs Vent Their Frustrations
By: New Zealand Media and Entertainment
Taking Action To Reduce Waste And Plastics
By: New Zealand Labour Party
On Last Night’s Leaders Debate
By: Gordon Campbell
Dunne Speaks: The Election Campaign Just Grinds Slowly On And On
By: Peter Dunne
Electoral Commission: Candidate And Party Lists Released
By: Electoral Commission
National Releases Its Plan To Restore NZ’s Prosperity
By: New Zealand National Party
The 2020 New Zealand Election Is Not A Foregone Conclusion.
By: Keith Rankin
Overseas Voting Starts On Wednesday
By: Electoral Commission
Politicians To Go Head To Head On Education Issues In Election Debate
By: NZEI Te Riu Roa
New Zealand First Fully Exonerated Of All SFO Charges
By: New Zealand First Party
Links to two judgments in the SFO's NZ First Foundation case
By: New Zealand High Court
Green Party Responds To NZ First Foundation SFO Charges
By: Green Party
View as: DESKTOP | MOBILE © Scoop Media