In an opinion piece in today's NZ Herald Finance Minister Michael Cullen explains why he thinks New Zealand is well placed to weather the current global economic storm. We are pleased that he is so focused on inflation. His comments on the forthcoming budget were also encouraging. Unfortunately the 9th floor got to look at the draft and guess what they added as the final paragraph??? Expect sustainability in all speeches from all Ministers all year (until the election anyway).
The Budget I am currently working on - including the personal tax cut package I will announce - will be a Budget for these times. It will be a Budget that will not exacerbate inflationary pressures, that does not make us more vulnerable to global shocks, and that takes our challenges seriously.
It will also be a Budget that keeps a long-term view in balance. Our economy has been rebuilt over the last eight years.
We now have an unprecedented opportunity to become the world's first truly sustainable nation and in the process become more prosperous than ever before. While we work through today's challenges, we must not take our eyes off that prize.
