Cullen confirms borrowing and spending cuts

Published: Thu 10 Apr 2008 04:01 PM
Bill English MP
National Party Finance Spokesman
10 April 2008
Cullen confirms borrowing and spending cuts
National Party Finance spokesman Bill English says Michael Cullen has confirmed he will be borrowing more, and spending more at a slower rate of growth to pay for tax cuts.
“Last year, Helen Clark said cutting taxes and raising spending was ‘a recipe for disaster’, but that is precisely what Dr Cullen has now confirmed he plans to do. When National announced plans to slow the growth of government spending, Dr Cullen asked how many doctors, nurses and teachers would lose their jobs. Perhaps he should now answer the same questions?
“Clearly this is a ‘do as I say’ Government, not a ‘do as I do’ Government.”
Mr English is referring to answers in Parliament today, in which Dr Cullen confirmed that Labour would allow government debt to rise to around 20% of GDP.
“Dr Cullen has now confirmed that Labour has totally mismanaged economic growth. He is going to be raising government debt to pay for the tax cuts which he does not want to give.
“Labour cancelled the ‘chewing gum’ tax cuts to pay for record spending promises unveiled in the 2007 Budget.
“In that Budget, Labour made a conscious decision to sacrifice borrowers with a spending track that would force interest rates to remain higher for longer.
“Labour has overtaxed New Zealanders for the past nine years while posting record surpluses. Now, to add insult to injury, Labour is being forced to borrow to pay for election year tax cuts.
“Dr Cullen let the best opportunities to start cutting personal taxes pass him by. He missed golden opportunities and should have done the right thing by taxpayers much sooner.”

Next in New Zealand politics

Government announces new red zone payment
By: New Zealand Government
Gordon Campbell on MPs pay and the REAL p.c. danger zone
By: Gordon Campbell
Emotional day as remains of NZ service people return home
By: New Zealand Government
Commissioner details allocation of 1800 police
By: New Zealand Police
Concern for those in aged care facilities without consent
By: Human Rights Commission
Green leadership stands firm on waka jumping bill at AGM
New Leadership for The Opportunities Party
By: The Opportunities Party
Gordon Campbell on another reason to loathe HR departments
By: Gordon Campbell
Red Zone payment creates risk for Crown
By: New Zealand National Party
Human Rights Commission backs red zone property offer
By: Human Rights Commission
Red zone bailout is disgraceful
By: New Zealand Taxpayers' Union
PM's Press Conference 20/8/18: MP Pay, Nauru, Antarctica
By: The Scoop Team
MP pay frozen and fairer system for increases developed
By: New Zealand Government
Performance pay for chief executives ended
By: New Zealand Government
Green Party backs pay freeze for MPs
By: Green Party
View as: DESKTOP | MOBILEWe're in BETA! Send Feedback © Scoop Media