What did John Key promise on tax cuts?

John Key is already backing away from his promise to deliver $50 a week in tax cuts just hours after it made headlines this morning, Finance Minister Michael Cullen said.

The Dominion Post quoted Mr Key as promising “meaningful relief” for taxpayers in the National Party tax cut policy. When asked what he considered meaningful to be Mr Key responded by saying, “North of $50.”

Later this morning on TV3’s Sunrise programme, Mr Key claimed the Dominion Post misquoted him. He claimed:

“Well they asked me what they thought a meaningful tax cut would be because they'd polled their readers on that, and I said I'll bet you they're saying north of $50.”

“Mr Key likes to be slippery on policy detail, but you would think that at least on his sole issue of tax cuts he could stick to the same story for more than a couple hours,” Dr Cullen said.

“He told the Dominion Post that he would give ‘North of $50’ a week in tax cuts, he woke up this morning and saw the headline, realised it made him look reckless, and then started backing away and blaming journalists.

“The truth is Mr Key did not want to admit yet again that it will be National Party policy to ‘out tax-cut’ Labour regardless of what is in Thursday’s Budget. No serious Leader of the Opposition would commit to a dollar amount on tax cuts before Treasury opens the books on Budget day.

“Mr Key needs to set the record straight.”

ENDS

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