Tuesday, June 28, 2005

Gman has blogged he has found out Labour's deep dark secret and it's huge. He says there has been a massive flight of capital out of NZ following the Cullen budget, the Kyoto cost to NZ and the carbon tax announcement.

I blogged on a similar line earlier - where I wondered whether the deep dark secret was Cullen's hardwiring of the economy to the extent an incoming Government was severely hobbled. I said I hoped the Fiscal Responsibility Act announcement pre-election will reveal all. Gman goes futher and says Clark and Cullen know the economy is tanking big-time and have no response. They apparently have the Treasury, Reserve Bank and Ministerial Services management gagged under threat of death to say absolutely nothing. The instructions to those vessels of state are to only comment on things as statutorily required. The plan apparently, is to make the FRA announcement as late as possible - so coupled with the sinking polling for Labour we're not going to see an election announcement anytime soon.

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