Bill English MP
National Party Finance Spokesman

29 October 2008

Failed OECD target reheated as Labour policy

"Nearly ten years after promising to get New Zealand back to the top half of the OECD, the failed promise is again formal Labour Party policy," says National Party Finance spokesman Bill English.

It's part of Labour's promise for 'economic transformation' and one of the few policies that have been published on Labour's campaign website.

"This is truly groundhog day for Helen Clark. The cupboard is so bare she is resorting to reheating the promises she made nearly a decade ago in the hope that no one will remember. It's another strong sign that it is time to change.

"And what has Labour delivered New Zealanders?

"While Australians have enjoyed year-on-year tax cuts, Labour has spent the surpluses and is now projecting a decade of deficits and rising Government debt.

"And New Zealand has slid down the OECD ladder because Michael Cullen and Helen Clark only know how to spend other people's money, they do not know how to grow the economy."

Mr English says Helen Clark has yet to provide any detail about how the 29 promises she has made since the pre-election opening of the books will be paid for.

"She's asking Kiwis to write her a blank cheque and she'd tell them the bad news after the election in a mini-Budget. That makes Labour's campaign a 'maximum-fudge-it'."

Mr English says with all the other big spending demands of Labour's likely coalition partners, Helen Clark should at least tell the public how bad the books would look if Labour's uncosted policies were part of the mix.

"The books will look even worse if Helen Clark enters into a deal with the Greens after the election as expected. What part of her programme would she sacrifice for a fourth term?"

ENDS

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