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"Budget 2008 tax cuts, which apply to superannuitants as well, will help meet at least some of the increased costs of living, which are putting a lot of pressure on household budgets.  But those tax cuts are not at the expense of vital public services like education and health and we're introducing them over four years to avoid putting pressure on mortgage interest rates. This year's Budget is about ensuring all Kiwi taxpayers benefit from personal tax cuts while continuing to manage the economy in a responsible way to build a strong future.

Past surpluses were not frittered away on rewarding a few.  They have gone fairly to strengthen our communities and build our infrastructure - hollowed out during the 1990s.

We cut taxes for families, raised superannuation rates, cut taxes for business, reinvested in state housing, reformed welfare, cut taxes on savings, and undertook historic investments in health and education.

The results are clear.  As we have enjoyed rising profits for firms and the longest economic expansion since the Second World War we have also seen:

• 350,000 more jobs created, giving more families a stake in our economy
• Unemployment fall by more than half and staying below 4 per cent for four years
• Over 140,000 fewer people are relying on a working age benefit
• Child poverty rates fall dramatically
• Inequalities in health outcomes finally start to narrow

This is a fair and responsible budget which helps individuals and families, keeps our economy strong, and invests in the future. Our work continues."

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