KEY POINTS:
Good try, John. But Labour is not going to fall for that old trick.
John Key insists his offer to Michael Cullen to work with Labour on urgently needed measures to protect the banking system was made to stop "politics getting in the way".
The politics always get in the way. However genuine Key's motives, his bipartisan initiative was bound to be treated with suspicion by Labour in the midst of an election campaign.
Helen Clark and her colleagues will have simply viewed it as a ploy by Key to look prime ministerial in a crisis.
His rationale for yesterday's offer is that major decisions about the complex bank deposit guarantee scheme will have to be made before the election - now less than three weeks away - or soon afterwards.
Regardless of who wins, Labour will then be only nominally in charge, running a caretaker administration with drastically curtailed decision-making powers until the new Government is formed.
The latter exercise could take several weeks. In Key's view, it would be better for the required banking measures to have buy-in from both major parties as soon as possible so there is certainty for the banks and local and overseas regulators.
Essentially, National wants to be consulted - rather than, as it is now, merely being briefed.
But Labour is not constitutionally obliged to consult the Opposition this close to the election. Afterwards, it is a different story. But the Cabinet Manual explicitly says the Government has full power to make decisions right up to election day, although it does have to show restraint when making appointments to boards or other positions.
Labour will have seen Key's offer as an attempt to gain the initiative in the crucial electoral battle to win voters' trust to get the economy out of serious recession while also limiting its impact.
Offering to work with an opponent always goes down well with voters. Key had success with the tactic when he put up a compromise proposal to end the deadlock over the anti-smacking bill.
His latest move was designed to demonstrate real leadership by putting the national interest above petty politics. It was also designed to show National is ready to govern.
Labour would see it as Key trying to barge his way into the Beehive ahead of election day.
Accepting Key's offer would have contradicted its message that National's leader is too inexperienced to be running a Government during the worst international financial crisis since the 1930s.
However, the offer put Labour in a tricky position. Rejecting it out of hand would have looked churlish.
So though Cullen said "no", he said "no" very politely. He will ensure Bill English, his Opposition counterpart, is kept informed of developments as they occur. He will be taking "full notice" of any comments English has to make. In other words, thanks - but no thanks.
