Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

John Key – fast and loose with numbers last night

Hon Dr Michael Cullen
Labour Party Deputy Leader
Finance Spokesperson

15 October 2008 Media Statement
John Key – fast and loose with numbers last night

John Key was playing fast and loose with the facts in last night's television debate, Finance Minister Michael Cullen said today.

"On KiwiSaver, John Key was dishonest in pretending that under National's proposals employers won't be able to pass on the cost of the employer contribution to the employee.

That is precisely what was happening before Labour changed the law that National is now promising to repeal.

"That would mean an employee on the average full-time wage in KiwiSaver would be nearly $40 a week worse off under National.

"Second, Mr Key was dishonest in suggesting low income families would get National's complicated Earner Rebate. He knows that is not true.

"In fact, low income families would be worse off under National's proposals up to a level of over $40,000 a year.

"Third, Mr Key was dishonest in suggesting that a family on $40,000 benefitting from Working for Families would lose two thirds of any extra dollar earned under Labour, but only one third under National.

"At present the effective marginal tax rate for such a family is 53 per cent. That falls to 41 per cent under Labour's legislated for tax policies versus 40 per cent under National's. But so far, no other Parliamentary party has expressed support for National's proposals.

"Fourth, Mr Key claimed that the top tax rate in Australia cuts in at 'hundreds of thousands of dollars' above New Zealand's.

"In fact, the top tax rate of 45 per cent cuts in at $A180,001, but their second top rate of 40 per cent is still higher than NZ's top rate, and it cuts in $A80,001. In any case, under National's policy, the top rate would cut in at ten thousand dollars less than Labour's legislated for tax cuts.

"Finally, for Mr Key to suggest that because he headed Merrill Lynch's foreign exchange division then that fits him to be Prime Minister in the current financial crisis – that is a little like Sweeney Todd claiming the right to be the right person to regulate the hairdressing industry."


ENDS

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Supermarket Scam, And On Tunisia’s Scrapping Of Democracy

Are we paying too much for our groceries? Hmm. Is the Pope a Catholic? Given that the two Australian supermarket chains that dominate our grocery industry routinely rack up profits in the order of $22 billion annually, that’s a no-brainer. Yet as with New Zealand’s other socio-economic problems created by our 1980s reforms, the practical solutions seem pretty thin on the ground... More>>

 


Government: Welcomes Draft Report On The Retail Grocery Sector

The Commerce Commission’s draft report into the retail grocery sector is being welcomed by Government as a major milestone. “I asked the Commerce Commission to look at whether this sector is as competitive as it could be and today it has released its draft report for consultation,” Commerce and Consumer Affairs Minister, David Clark said... More>>

ALSO:

Child Poverty Action Group: Poverty Burden For Children Increased Due To Government Neglect - New Report

Poverty, inequity, homelessness and food insecurity are among the burdens which increased for tamariki Māori and other children in the first year of Covid-19 - partially due to Government neglect... More>>

Government: Cabinet Accepts Turkish Authorities’ Request For The Managed Return Of Three NZ Citizens

Cabinet has agreed to the managed return of a New Zealand citizen and her two young children from Turkey, Prime Minister Jacinda Ardern announced today. The three have been in immigration detention in Turkey since crossing the border from Syria earlier this year... More>>

ALSO:


NZUS Council: Welcomes Nomination Of Senator Tom Udall As US Ambassador To NZ

The NZUS Council welcomes the nomination of Senator Tom Udall to the role of US Ambassador to New Zealand and Samoa, NZUS Council executive director Jordan Small said... More>>

BusinessNZ: Visa Extensions Welcomed
BusinessNZ has welcomed the extension of some critical skill visa durations and changes to immigration systems to speed processing. Chief Executive Kirk Hope says move acknowledges advocacy by the hospitality sector, the BusinessNZ Network and others, and comes not a moment too soon.... More>>



Social Development: Government Initiatives Contribute To Fall In Benefit Numbers

Minister for Social Development Carmel Sepuloni has welcomed the release of the June quarter Benefit Statistics which show a continuing fall in the number of people receiving a Main Benefit... More>>


 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels