Election 2014

29 Oct 2011

No big spending promises, says Key

7:18 pm on 29 October 2011

The National Party says it won't be making any big spending promises during the election campaign, because there is no money in the till.

Leader John Key told reporters on Saturday that the party is fully costing its policies - unlike Labour.

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Mr Key says National has already made it clear where it will spend its money and the party intends to host a standard campaign opening in Auckland on Sunday.

Mr Key says the election will be fought on who can give strong and stable leadership in difficult and uncertain economic times, and National won't be making any big spending announcements during the campaign.

"There's no money in the till and we are totally committed to getting back into surplus.

"The answers we make will be fully costed - as opposed to Labour's which aren't - and they will be affordable."

National has no new plan - Cunliffe

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The Labour Party says its policies are affordable and John Key is talking rubbish by saying otherwise.

Finance spokesperson David Cunliffe told Radio New Zealand on Saturday that Labour is aiming to get the country back into surplus quicker than National is proposing.

"I would say that National has no plans, because it has no ideas. It has no strategy and so it therefore follows that they will try and define the election about their being no money to do anything with.

"Well, any schoolkid could tell you that if New Zealand carries on this slippery slope that it's on now, it's a road to nowhere."

Mr Cunliffe says New Zealand has to develop new high-tech, high-value industries and get behind youth training and education.

"Now, some of that's going to cost some money, and the balance is we're going to have to manage that within a fully costed and responsible budget package. And Labour can and will do that.

"And I give this assurance that Labour will pay down net Crown debt, including the Super Fund assets as quickly - or quicker - than the National Government's current track."

Mr Cunliffe says Labour will release a full fiscal strategy in the near future which will detail its costings.

The election will be held on 26 November.