As worldwide financial markets continue to tumble, the National-led Government and Labour Opposition are sniping about which has the best policies to save the New Zealand economy from the fall-out.
Question Time in Parliament on Tuesday was dominated by Labour attacking the Government's economic credibility, while ministers ridiculed Labour's policies.
Finance Minister Bill English says the turmoil simply confirms that the Government has been right to rein in public spending.
But Labour finance spokesperson David Cunliffe says debt and borrowing have both gone up substantially under National.
Labour also used the crisis to argue that structural change is needed, including introducing a capital gains tax.
However, Mr English disagrees, saying Labour's plan would simply increase public debt.