Thursday, September 4, 2008

Cullen's big spend up

With all the fuss over Winston Peters, it's easy to forget there are other issues out there.
National deputy leader Bill English told a Business New Zealand conference yesterday that spending had increased 8 per cent a year under Labour.
He continued later:
It is time now to have a clean-up that is going to be necessitated by the fact that when Treasury opens the books (before the election) it is going to show a fair bit of red ink," he said.
And how much red ink?
Finance Minister Michael Cullen said he expected to unveil a cash deficit of at least $4b when he opened the books before the election. That compared to current forecasts of about $3.5b.

1 comment:

Anonymous said...

Well spotted fairfacts.
The great Cullen spoend up should never be forgotten.
That is why our interest rates bare so high.