Bill English MP
National Party Finance Spokesman

7 October 2008

Clark in a muddle over borrowing claims

National Party Finance spokesman Bill English says Helen Clark has been caught out by her own empty rhetoric.

"When National laid out a package to borrow slightly more to fund desperately needed infrastructure and promote growth, Helen Clark labelled the plan as 'reckless'. Now, Labour is promoting an even higher debt track.

"What was 'reckless' in August, is now prudent in October. In her desperate rush to score cheap political points, Helen Clark has exposed Labour's alarming lack of an economic strategy."

In August, Helen Clark said a debt track rising to 22% was 'reckless and gambling with the future'.

She wrote to every superannuitant in the country making the same accusation

"So what does she have to say now that Dr Cullen announced the results of his management yesterday, with debt reaching 30% of GDP?

"After nine long years, Helen Clark's legacy is a decade of deficits and a 50% increase in government debt. This makes a mockery of her alarmist and cynical claims.

"Helen Clark has to square her comments on reckless debt with Labour's scorched earth approach to the government's books.

"She and her ministers are piling up undertakings and deals that someone will have to pay for after the election

"Clearly, Helen Clark has no plan to stick around to clean up the mess, given her refusal to commit to a full three-year term, should Labour win in November."

ENDS

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