Key and Goff Square Off on Economy

November 3, 2011 New Zealand Finance

John KeyAs the country nears the November 26th election date the leaders of the National and Labour Party ramp up debates over the issues of the economy and taxation.

At the Press 2011 election leaders’ debate in Christchurch on November 2nd National Leader John Key and Labour Leader Phil Goff went toe to toe over their respective promises for the New Zealand economy.

The leaders first debated issues surrounding the rebuilding of the earthquake stricken Canterbury region. Phil Goff criticized the current Prime Minister for backtracking on claims made regarding payouts to taxpayers whose homes were damaged in the Christchurch earthquake. John Key responded by saying that payouts are a balancing act between the needs of effected individuals and the rest of New Zealand’s taxpayers.

A significant portion of the debate revolved around the Labour Parry’s plans to improve the national economy, and the reported NZD 14 billion that will be required to execute the plan. Phil Goff claimed that launching a renewed crack down on tax evaders and instating a capital gains tax would provide significant tax collection increases, and help provide the needed funds. John Key responded with claims that there are large omissions which have not been explained by the Labour Party, and he repeatedly asked Phil Goff to “show me the money”. The Labour Party Leader responded by saying that more detail on the party’s plans would be revealed at a later.

Photo by nznationalparty