A (mostly) good piece by an anonymous editor at The Herald this morning:
Govt should use extra to cut debt, not taxes
The Prime Minister, an endlessly agreeable politician,
Yeah Duncan Garner has something to say about that.
…entertains talk of tax cuts whenever the Budget surplus turns out to be higher than expected. It is well past time that he stopped doing so and instead made the public better acquainted with its debt position.
John Key and his Government know very well that the reason they have managed to bring the economy through a recession and earthquakes in good shape owes just about everything to the very low debt left by the previous Government.
Nice to see that acknowledged every now and then.
We are nearing the end of a fourth year of economic upturn and these are years the Government ought to be banking surpluses, just as Sir Michael Cullen did during the boom of 2000-2007. Cullen resisted pressure from his own party for social spending and from National in opposition who were constantly criticising the size of his surpluses and calling for tax cuts.
It is too much to expect politicians to admit it, but Team Key must have been relieved when they came to office that Cullen had ignored their advice. …
Tax cut bribes are going to be a hard sell for the Nats.