John Key MP National Party Finance Spokesman

22 November 2005

Cullen ducks for cover - again

National Party Finance spokesman John Key says he finds it hugely ironic that Michael Cullen is using Reserve Bank briefing papers to support his ideological opposition to tax cuts.

"This is a damning indictment on Labour's management over the past six years.

"Dr Cullen must be living in another world. He has been the one in charge of the purse strings and it is Labour's profligate spending which has helped put the balance sheet in this precarious position.

"The Treasury observes that productivity is a major issue in the state sector going forward, but notes that this Labour Government has no coherent growth strategy.

"Labour has been relentlessly increasing Government spending, despite severe and repeated warnings from Treasury that in many cases they are throwing good money after bad.

"Dr Cullen must take his share of responsibility for strong domestic inflation, with signs that the public sector is crowding out the private sector.

"Perhaps if Dr Cullen was prepared to listen to more expert advice, we wouldn't be in this position in the first place," says Mr Key.

ENDS

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