Labour deputy Leader Michael Cullen is confident Labour can produce stronger economic results than are forecast in today's Pre-Election Economic and Fiscal Update.

"Basically National is relying upon a rising international tide to lift all ships, including National's economic dinghy.

"A much more strategic approach to industry and export development will lead to both better and more sustainable outcomes than are forecast in these numbers.

"We are particularly concerned in that respect by the very high level of current account deficits which continue to be forecast by National even allowing for one-off items such as the frigate.

"However we will be basing our own fiscal planning on the Prefu rather than assuming any improvement in economic performance as a product of our policies.

"Labour will be releasing its full fiscal forecasts after we have fed the new information into our economic and fiscal model. I'm confident however on preliminary analysis that we will be able to forecast operating balances as good those forecast by National," Dr Cullen said.

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Gordon Campbell: On the Sony cyber attack

Given the layers of meta-irony involved, the saga of the Sony cyber attack seemed at the outset more like a snarky European art film than a popcorn entry at the multiplex.

Yet now with (a) President Barack Obama weighing in on the side of artistic freedom and calling for the US to make a ‘proportionate response’quickly followed by (b) North Korea’s entire Internet service going down, and with both these events being followed by (c) Sony deciding to backtrack and release The Interview film that had made it a target for the dastardly North Koreans in the first place, then ay caramba…the whole world will now be watching how this affair pans out. More>>