John Key MP National Party Finance Spokesman
25 May 2005
OECD report confirms rampant Labour spending
"The Finance Minster must feel embarrassed by the way he has tried to manipulate today's OECD report which confirms that
Labour spending is out of control," says National Party Finance spokesman John Key.
"Despite Michael Cullen's best attempts to claim otherwise, the report actually confirms that it is Labour's increased
spending that is to blame for the threat of rising interest rates and inflation," says Mr Key.
On page 153 the report says that the Reserve Bank's 'task has been complicated by the fiscal stimulus that has come from
additional Government spending in 2004 and 2005'.
"Labour has been spending like there's no tomorrow. It then has the cheek to turn around and tell working New Zealanders
they are worth no more than 67 cents a week - but they'll have to wait three years to get it.
"Labour has no ability to set sensible spending priorities and they are insulting the intelligence of Kiwis if they
believe they can convince us they haven't recklessly wasted a golden opportunity to close the gap with Australia," says
Mr Key.
ENDS