"National's latest policy theft from Labour demonstrates just how bankrupt of ideas, tired and compromised they are," Labour finance spokesperson Michael Cullen said today.

Dr Cullen was referring to Max Bradford's comment at the weekend that National was reviewing the tax regime for research and development with a view to allowing full deductibility in the year of expenditure.

"Labour announced months ago our intention to introduce a more sympathetic tax treatment for R&D, including full deductibility, as part of our campaign to transform New Zealand from a commodity-based to a knowledge economy," Dr Cullen said.

"It is not the first of our policies National has nicked and I'm sure it won't be the last.

"Their "Five Steps" programme is a pallid imitation of our industry assistance package. They've also adopted a tougher anti-competition test in an attempt to spike Labour's position.

"And they moved to blunt the impact of our announcement that a Labour government will launch an inquiry into the telecommunications sector by suddenly imposing tougher disclosure rules on Telecoms as the dominant market player.

"Telecoms' competitors have been pushing for fairer rules for ages but Maurice Williamson - a bear of very little brain indeed - had refused to let their concerns disturb his ideology.

"National probably think they are being clever but all they are doing is exposing their complete lack of any economic vision," Dr Cullen said. "The sooner they shuffle off and allow in a fresh Labour government capable of giving the country the leadership and vigour it needs, the better."

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