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Planning Committee no substitute for sound policy

Cullen's Economic Planning Committee no substitute for sound economic policy

Tuesday 18th Jan 2000

Rodney Hide

Media Release -- Economy

ACT Finance spokesman Rodney Hide said today that Minister of Finance Dr Michael Cullen was dreaming to think that his Industry New Zealand Committee was a solution to the country's Balance of Payments problems.

"What we need is sound economic policy making it profitable to invest in New Zealand. Sadly, every action Dr Cullen has taken since becoming Minister has served to undermine the country's economic progress.

"Instead of cutting taxes, Cullen has increased them. Another committee sitting around a table writing reports won't make up for the jobs and investment lost through the tax hike. All that Industry New Zealand will be is a begging bowl for the industries involved. That's not a recipe for economic success.

"Unfortunately for the country, Dr Cullen has no practical knowledge of how an economy or a business actually works," said Rodney Hide.

ENDS

For more information visit ACT online at http://www.act.org.nz or contact the ACT Parliamentary Office at act@parliament.govt.nz.


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