Budget rolls off the presses - with only hint of black

By VERNON SMALL deputy political editor

It is as traditional as the Christmas ham, but not as nourishing.

Every year about now, come governments of left or right, the Finance Minister pops up to Petone's Printlink factory, media in tow, to see his Budget roll off the presses.

Michael Cullen stuck with the script yesterday posing with the warm red cover - official shade PMS 704 - highlighted with a dash of white and a thin black stripe.

Asked how it compared with Arnold Nordmeyer's infamous 1958 "black budget," he said: "Well, it's largely red with a very small black piece at the top."

Talk of what is inside the cover is out - it would make a long line of finance ministers spin in their graves.

Considering the enthusiasm with which its contents are released ahead of time, it is sometimes hard to understand why.

But Dr Cullen allowed himself a few broad hints.

"I'd describe it as friendly to everybody but not excessively so to anybody."

No, there would be no indications of tax changes. That would be inappropriate while a full review of the tax system was being done. Nor would there be any changes to tobacco and alcohol excise.

It would point to areas where the Government needed to act to lift long-term economic growth.

Social spending would not feature as much as last year; instead, the emphasis would be on structural issues in the economy.

But there would be few surprises. "The Budget is not the place for ambushes," Dr Cullen said.

Forecasts will show growing surpluses and an economic performance which is "satisfactory, but not satisfying."

But after you have heard the speech on Thursday at 2 pm and read the endless tables and forecasts (6000 copies of the speech and 3500 copies of the estimates), what about a lasting record?

This year, for the first time, buy the CD-Rom. It is not expected to go gold.