Prime Minister John Key’s blasé response to a probable third credit down grade is both irresponsible and reckless and all New Zealanders should be concerned.
With New Zealanders already struggling to pay bills and put food on the table, this ‘shrug-of-the-shoulders, what-can-I-do?’ response from Mr Key is far from good enough.
In the current world economic crisis, creditors not only want to see governments talking about their plans to reduce government debt, they actually want to see those plans put into action.
National has failed on both counts and we are paying higher interest rates as a result.
While it was Labour who, with their nine year spending binge, got us into this financial mess, National also must shoulder some blame for failing to do anything about it. Rather than get rid of the unaffordable, inefficient Labour schemes, National is borrowing $350 million a week to pay for them.
This has to stop.
The first thing National should do is promise to immediately pass ACT’s ‘Spending Cap Bill’ after the election.
Kiwi families have to live on a budget and so too should politicians.
Passing this Bill would mean that politicians would no longer be able to spend up large in the good times, leaving nothing for the times when we need it most.
This would be a good first step.
The second thing National should do is move to reverse Labour’s unaffordable election bribes that National complained so much about in Opposition but have not done anything.
Finally, National should implement the recommendations made by the 2025 Taskforce so that we can close the income gap with Australia and make New Zealand an attractive place to live once more.
We can stop our fall down the world economic ladder, but it needs to happen now. By giving ACT your Party vote in next month’s election, we will give National the courage to get our country’s books back in the black.
Dr Don Brash is Leader of the ACT Party based in Auckland. The above was a statement that he released on October 20, 2011.
