Monday, 6 October 2008

Labour to ditch tax cuts

The 9 year wait from Labour for tax cuts has come a cropper today, with the opening of the Government books. Micheal Cullen has revealed that there will be no more tax cuts from Labour right when we desperately need them:

Despite that, Dr Cullen said now was the not time for "a slash and burn response" to government spending, or more tax cuts.

He also hinted it was time he did some "productive spending" as opposed to the last 9 years of wastage-it took him a while but an economic crises finally got him there.

The tough times meant there would have to be review of such "low priority" spending to fund more productive new initiatives.

NZ Herald

Interesting though that on September 12 Michael Cullen said this:

"There's a lot of factors coming together there," Dr Cullen said. "I think probably the worst is over now."

Political Animal

But just 3 weeks latter on October 6 this curious comment:

"This is a time of unprecedented challenge for the global economy," Dr Cullen said.

"The rainy day has now arrived."

NZ Herald

If Cullen is confused by the current economic crises how can New Zealanders trust him to manage our collapsing economy?

Good question Darren, good question.

c Political Animal 2008

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