Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search


Nats do not know the cost of their own policies

Hon Dr Michael Cullen
Labour Party Deputy Leader
Finance Spokesperson

13 October 2008

Nats do not know the cost of their own policies

Finance Minister Michael Cullen was today surprised to learn that the man who is vying for his job doesn't even know the fiscal impact of his own party's tax policy.

Mr English, during a Radio New Zealand debate on tax policy, said that the National Party's tax package would deliver an injection into the New Zealand economy of $7 to $8 billion next year,"Dr Cullen said.

Mr English said that this was money that "at the moment [New Zealand] is not going to get.

"Mr English is trying to tell us that National's tax plan will deliver an extra $7 to $8 billion on 1 April next year into the New Zealand economy.

"This is absurd and I was very surprised to hear this announcement.

"They previously said that the impact of their tax cuts was $3.7 billion over 3 ¼ years," Dr Cullen said. "And that is before they remove the injection of $900 million for R&D tax credits from 2009.

When questioned by the Finance Minister live on-air, Mr English seemed to back track saying he wasn't sure about the numbers and would have to check.

These latest comments from Mr English follow on from his comments to the New Zealand Herald on Saturday which indicated that the current publicly available National policy on KiwiSaver could be changed if National actually forms the next government.

"I would urge Mr English to make himself clear - was this a slip of the tongue or does the National Party have deeper tax cutting plans that they are yet to tell the voters of New Zealand about?" Dr Cullen asked.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Not Easy: Gordon Campbell On The Greens’ Ongoing Problems

Hard to treat the Greens’ belated decision to stand a candidate in Ohariu as being anything other than a desperation move, by a party whose own leadership is evidently concerned about its chances of survival...

A few months ago, the Greens felt able to forego that role in Ohariu in order to help a beleaguered Labour Party get its candidate Greg O’Connor across the line, and knock Peter Dunne out of the parliamentary frame. More>>


Closing The Gap: Ardern Rules Out Income Tax Rise

After earlier commitments by Jacinda Ardern to do something about inequality and poverty, this new position on income tax seems an about face. To do something significant about inequality requires increases in income for those at the bottom and decreases for those at the top... More>>


Gordon Campbell: On DHB Deficits And Free Trade

Currently the world is looking on aghast at the Trump administration’s plans to slash Obamacare, mainly in order to finance massive tax changes that will deliver most of their gains to the wealthy. Lives will be lost in the trade-off. Millions of Americans stand to lose access to the healthcare they need... More>>

Greens' Response: Slum-Like Rentals Exposed In Renting Review

“...The grim findings of the review are a wakeup call about the true state of rentals in this country. Too many renters are festering in slum-like conditions under the thumb of landlords who have largely unchecked powers and ignore tenants’ complaints when it suits them.” More>>


Gordon Campbell: On The Life And Times Of Peter Dunne

The unkind might talk of sinking ships, others could be more reminded of a loaded revolver left on the desk by his Cabinet colleagues as they closed the door behind them, now that the polls in Ohariu had confirmed he was no longer of much use to National. More>>


Gordon Campbell: On Labour’s Campaign Launch

One of the key motifs of Ardern’s speech was her repeated use of the phrase – “Now, what?” Cleverly, that looks like being Labour’s response to National’s ‘steady as it goes’ warning against not putting the economic ‘gains’ at risk. More>>


Lyndon Hood: Social Welfare, Explained

Speaking as someone who has seen better times and nowadays mostly operates by being really annoying and humiliating to deal with, I have some fellow feeling with the current system, so I’ll take this chance to set a few things straight.. More>>





Featured InfoPages

Opening the Election