John Key MP National Party Finance Spokesman

18 May 2006

Cullen's Supersize Me surplus

The Budget today confirms what New Zealanders already know - that Michael Cullen is sitting on a Supersize Me surplus, says National Finance spokesman John Key.

An $8.5 billion surplus is forecast for the 2005-06 year.

"He does not even have the decency to chuck the public a Chicken McNugget," says Mr Key. "Kiwis should dismiss Michael Cullen's protestations that the surplus is not real.

"We have all come to learn the Labour strategy that portrays the surplus as not a a surplus unless it's election year.

"So, in the runup to the 2005 election, we had big-spending promises to be funded from the surplus Dr Cullen was saying wasn't there to spend.

"The stark reality is that the short-term outlook for growth is bleak. This Budget's lack of action will only ensure the wage gap with Australia widens and more Kiwis consider leaving.

"The clock is ticking for our economy if we are to remain competitive with other First World countries.

"Substantial tax cuts are a major step down the road of driving up our sustainable growth rate.

"This Budget is about fancy headings like 'national identity' which are just spin and are designed to mask tired, old policies."

ENDS

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