John Key MP
National Party Finance Spokesman

10 November 2006

Cullen loses tax cut affordability argument

“The latest Treasury figures showing revenue continues to defy predictions makes a mockery of Michael Cullen’s argument that tax cuts are unaffordable,” says National Party Finance spokesman John Key.

“Dr Cullen’s credibility is shot. He has been utterly humiliated with his tired argument that tax cuts are unaffordable. The latest figures show they are affordable, it’s just a question of how ambitious they are.”

Mr Key says Dr Cullen should be upfront with the public and explain why they will have to wait until election year for a fairer tax system, when the Government’s tax take continues to swell at rates defying forecasters.

“An already cynical public will see tax cuts in 2008 for what they are - a reluctant return of some of the cash that Labour’s gouged from the pockets of hard-working Kiwis over the past seven years.”

ENDS

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