Cullen should learn from Aussie budget

National Party Finance spokesman John Key says Michael Cullen should be very worried by the affect of huge Australian tax cuts on the New Zealand economy.

“We’re already bleeding talent to Australia. This will just accelerate the brain drain. Labour needs to wake up to the fact that Australia is launching a charm offensive on our skilled and professional workforce,” says Mr Key.

Australian Treasurer Peter Costello has signalled welfare reform and large-scale tax cuts across the Tasman - he has also adjusted tax thresholds.

“This is something the New Zealand Labour Party is fundamentally against. Inflation has contributed to an explosion in the number of Kiwis paying the top tax rate.

“On top of that, Labour is introducing more taxes, like the Carbon Tax, that will hit every business and consumer in the country.

“The income gap between the average Australian household and the average Kiwi household continues to grow wider under Helen Clark and Labour.

“Only National can be trusted to deliver lower taxes to working New Zealanders,” says Mr Key.

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