ACT Finance spokesman Rodney Hide said today that Labour's Dr Michael Cullen had no credibility on tax policy.

"There's no excuse with the Pre-Election Fiscal Update now out for any Party not costing its policies. Dr Cullen has failed to do that.

"There's a simple reason. Dr Cullen doesn't understand Budget numbers and he can't square Labour's spending promises with his tax policies.

"Cullen has no credibility on tax. At the very least he should explain exactly how Labour intends to pay for their promises. It's not enough for Dr Cullen simply to assume that he can spend each dollar raised in tax ten times over," concluded Rodney Hide.

ENDS

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