Cullen’s bad timing

Dr Cullen has refused to provide tax cuts over the last few years when surpluses have been the second highest in the world – close to $10 billion. He has claimed they were unaffordable.

Now suddenly in election year they are affordable, despite weakening economic growth leading to a fall in the six month surplus of around $1.7 billion.

So Dr Cullen says tax cuts are unaffordable when the surplus is $10 billion but are affordable when the surplus is far lower. No wonder he looks so unhappy every time he has to talk about them.