John Key and his money tree
Key reverses stance on cash for families
National is still outwardly confident its election-year tax-cut package will impress voters, despite the fact that it has adopted another Labour policy - this time Working For Families - and further restricted the amount of money it has to spend. National leader John Key yesterday pledged his party would keep the Working For Families tax credit scheme intact if it wins power. He said the commitment extended to keeping inflation-adjusted increases to Working For Families payments and included the October 1 rises that were announced in May's Budget. It is quite a turnaround for Mr Key, who has previously labelled the tax credit scheme "a giant welfare package" and criticised the idea of families who earn more than $100,000 a year getting extra government payments. National has now moved to adopt - or neutralise - interest-free student loans, the nuclear-free stance, ownership of Kiwibank and other state-owned enterprises, the New Zealand Superannuation Fund and Working For Families.
The list of Labour Party costs that John is agreeing to adopt all on top of a much larger slice of tax cut is now starting to look like quack economics – where is Mr Key intending to find all the budget to not only match all of Labours large social spending but also find the cash to throw at tax cuts. His sudden U-turns on issues that he has voiced ideological opposition to suggests he either doesn’t believe his ideological leanings in the first place or he’s being crosby-textered and this is one of those lies he will simply dump the second he’s in power. Conspiracy aside – I would love to see where in Gods name he intends to find all this magical money that will pay for everything.