Bill English MP
National Party Finance Spokesman

17 October 2008

$1.3 billion day for big spending Clark

National Party Finance spokesman Bill English says Helen Clark needs to tell the public where the $1.3 billion she promised on the campaign trail yesterday is going to come from.

"New Zealanders should be told before the election how Labour would pay for this recklessness. None of the promises Helen Clark made yesterday were factored into the pre-election opening of the books."

Mr English is referring to the billion dollar fund for the Greens, $133 million on a near-copy of National's benefits policy, and around $250 million on maintaining the floor of superannuation at 66% of the average after-tax wage.

"National's package is fully costed and paid for. It includes significant investments in insulation and maintains the floor of super. But we do not know how Labour plans to pay for its promises, because Michael Cullen says Labour can't, or won't, produce any figures until after the election.

"This blank cheque approach is reckless and dangerous. Labour must produce a set of accounts so New Zealanders can judge for themselves what sort of damage Labour is prepared to do to our economy in its desperation to get Helen Clark a fourth term."

ENDS

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