Last time Dr Michael Cullen made election promises, he plunged his portfolio into massive overdraft, said Roger Sowry.

"As Minister of Social Welfare, Dr Cullen racked up $300 million in promises which he had no money for and didn't implement," Mr Sowry said.

"And they were the same sort of promises Labour's making today..social welfare benefits, superannuation, education, health."

"The financial markets weren't stupid – when Labour forecast an $89 million surplus in their last budget, the markets banked on a $3 billion deficit.

"Interest rates had come down to 15%, inflation sat at 5% and the current account deficit was being called 'the toughest financial crunch the country has ever faced'. And kids were being charged 28% tax when they saved their pocket money."

Mr Sowry said history shows that when National took over the reins of Government from Labour, the country was in an appalling financial state.

"Let's not go back".

© Scoop Media

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>>