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Copeland: Bring back Bill, Sowry's gone nuts

Copeland: Bring back Bill, Sowry's gone nuts

United Future finance spokesman, Gordon Copeland, today called on National leader, Bill English, to abandon his trip to the United States in order to rein in his deputy, Roger Sowry, who is displaying his 'astonishing ignorance of finance' by calling for the Cullen superannuation fund to be used to fix up Auckland's roading woes.

"This is an irresponsible suggestion that asks the Government to abandon the future pensions of New Zealanders in order to build roads today," said Mr Copeland.

"It reminds me of the late Robert Maxwell's raid on the staff pension fund to finance his ill fated media empire.

"Mr Sowry plainly fails to understand that the Government is currently able to borrow more cheaply than any other entity in New Zealand to part fund the decongestion of Auckland and that's exactly what it should do.

"United Future is only suggesting additional borrowing because Government debt projections are currently running below forecast so there is a bit of slack there. The borrowing would therefore not breach current debt level targets

"It may well be that some of the new debt could be serviced using the petrol excise, tolls or similar. The roads will be there for a very long time so debt repayment of thirty years or so makes good sense. New Zealand in the meantime saves the present $1 billion a year cost of Auckland congestion and people's pensions entitlements remain secure," concluded Mr Copeland.

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