Bill English MP
National Party Finance Spokesman

9 March 2007

Cullen should come clean with homeowners

"Michael Cullen needs to provide some certainty to Kiwi homeowners about what he has in the pipeline to attack housing investment," says National Party Finance spokesman Bill English.

"Dr Cullen is still giving the impression that he's continuing work on the mortgage tax, which Helen Clark has already dismissed as a 'dead duck'.

"But the Finance Minister now needs to come clean with New Zealand homeowners about which options he wants to implement.

"By his own admission, none of the mechanisms are that palatable, so he should be up front and provide some certainty for the hundreds of thousands of Kiwis who have their life savings wrapped up in their home."

Mr English says that yesterday's Reserve Bank Monetary Policy Statement makes it clear that increasing Government spending and a loosening of the taxpayer purse is partly to blame for rising interest rates.

"But instead of tending to his own backyard, Dr Cullen and Labour are preparing to burn off everyone else's."

Mr English has also hit back at nonsense claims about National's agenda to provide tax relief for hard-working New Zealanders.

"Of course Michael Cullen can't find headroom for tax cuts despite record surpluses - because he and Helen Clark are planning to spend so much in the run-up to the election.

"National has made it very clear, since before the last election, that we favoured a programme of phased tax relief. New Zealanders won't have to wait eight years for tax relief under the next National Government.

"Labour has made a choice. Helen Clark and Michael Cullen have decided they can spend money more effectively than homeowners and taxpayers. National does not share that point of view."

ENDS

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