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Dr Cullen Talks About Losing Lots of Money

Dr Cullen Talks About Losing Lots of Money

NZ Finance Minister - Hon Dr Michael Cullen


This lunch hour a moderately cheerful Dr Cullen explained the government financial statements to the media. The Government's balance sheet is now in the red after losses on investments during the recent global sharemarket downturn according to Dr Cullen.

While this is a downside the upside for Dr Cullen - who has been well in the black for many a year - is he can now have a go at National over tax. Dr Cullen mused that when the Government's coffers were full National would call for a tax cut – given that there is now a deficit he wondered whether that meant there should be calls from the Opposition for tax increases.

Despite the jibes at National's expense over tax Dr Cullen still maintained there would be room for tax cuts in the budget.

Listen to Dr Cullen musing upon the government financial statements

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