Michael Cullen's lie finally exposed

First Cullen thought that it was OK to give a tax cut of 67 cents in the budget- and wait three years. Well we won't getting 67c tax cut as National will be in power next week.

The student loan policy lies are finally revealed. Cullen wants to increase student debt.

Yet John Belgrave is an admirable chap. The Chief Ombudsman told Cullen to release the Treasury documents on the student loan costs by 5pm today. Cullen wanted kept secret until his party lost the election

Now Labour has really lost it. Treasury believes the policy will cost $179 million in the first year, up from Dr Cullen's estimate of $100 million. Westpac economists provided different figures to Cullen's.

The student loan policy will cost $311 million in the third year, or $50 million more than the minister was saying.

Now we know why there was no money for tax cuts. Was it earmarked to pay the extra 1.9 billion in debt the policy was to create.

Will Helen Clark and Michael Cullen apologise to Westpac or to Treasury? Not likely. Cullen was too busy telling people at Otago University today that student debt will rise under National.

It's just as well National appealed to the Ombudsman, isn't it.