Bill English in the House on the BPS

In a fiery 10 minute speech on the Floor made in response to the Government's Budget Policy Statement, Bill makes forceful accusations of economic mismanagement by Labour.

"The events of the last eight years are starting to look a bit different than they did even twelve months ago. Where Dr Cullen used to portray himself as the magical manager of the economy," Bill says, now that things are "starting to look a bit gloomy" Labour will be scrambling to avoid blame where they once scrambled to take credit.

Among other things, Bill points to a Reserve Bank forecast that indicates unemployment will go up 16% over the next three years, from 3.4% to well over 5%. "Who takes credit for that?" Certainly not Dr Cullen - but that rise in unemployment will be the direct consequence of his mismanagement of the economy.

"Only one thing matters" to Dr Cullen, Bill says, "the re-election of the Labour Party. At any cost, to any one, at any time. And the very heartening thing is that out on the street, they know that."

http://nz.youtube.com/watch?v=1l8fP9jYmCk