Hon Dr Michael Cullen
Minister of Finance

7 October 2008 Media Statement

And the point was?

It is a mystery what the breathlessly summoned press conference given by Mr Key was all about, Finance Minister Michael Cullen said today.

"The National Party had trumpeted a press conference today by its leaders, Mr Key and Mr English.

"But the nation remains baffled by what the announcement was, especially as Mr Key's statement seemed to both promise a reduction in the party's initial tax cut package as well as the maintenance of it.

"Perhaps this could be called another 50,000/100,000 moment in Mr Key's life.

"Tomorrow all will be revealed including which public programmes will be savaged to pay for Mr Key's obsession with additional tax cuts," Dr Cullen said.

"The notion that the best way of dealing with the international financial crisis is for bigger personal tax cuts next year bears no relationship to the challenges that the New Zealand economy faces any more than Mr Key's pale imitation of an economic plan has anything to do with improving our long-term economic growth prospects," Dr Cullen said.

ENDS

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