‘Fiscal shot in the dark’
Wellington reporter The Opposition’s spokesman on finance, Mr Michael Cox, dismissed the $1.7 billion estimate as “an optimistic fiscal shot in the dark. “Even at $1.7 billion, Mr Douglas is 30 per cent out on his budgeted figure of $1.3 billion. If he were an accountant in the commercial world he would be sacked, closely followed by his general manager.” Confusion being caused in the financial market was doing nothing to bring down interest rates for the average New Zealander.
“The Prime Minister tells us it could be $2 billion—the National Bank estimated $2 billion, and I believe the- market has already decided that is what the final figure will be,” Mr Cox
said. “There is only one thing worse than no information and that is the wrong information. Mr Douglas would have done better to keep his estimated deficit to himself.”
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Press, 19 February 1986, Page 8
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147‘Fiscal shot in the dark’ Press, 19 February 1986, Page 8
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