Tuesday, September 16, 2008

Compare and contrast

Bill English, on Scoop today: No time for reckless spending promises:

Further financial instability in world markets will create more uncertainty about a quick recovery from the current recession in New Zealand, says National's Finance spokesman, Bill English.

Mr English is commenting on recent events in the US financial markets.

"These significant events could have negative consequences for our economy through lower commodity prices and less availability of credit.

"At the very least, households face more uncertainty about their economic outlook.

"This election campaign is not a time for reckless promises from desperate governments...

Bill English, in the Herald this morning: National sticking to $50-a-week tax cuts :
Despite global financial turmoil, National's finance spokesman, Bill English, has indicated the party is still considering tax cuts of $50 a week.

Asked on Radio New Zealand whether cuts of that magnitude were still on the table, Mr English replied: "It will be around those expectations."

His comment comes just before the next Treasury quarterly report is expected to show a recession, and follows ongoing ructions in the United States with the bankruptcy announcement of investment bank Lehman Brothers and forced sale of Merrill Lynch to the Bank of America.

How does English reconcile these two seemingly contradictory positions? "It's not reckless if you're a tory...?"