KEY POINTS:
National has launched its formal election campaign with leader John Key spelling out his party's credentials to steer the economy through troubled waters.
Over the four weeks of the formal campaign, National and Labour will go head to head over who can best chart the economy through the current recession and the turmoil on global markets.
The National leader today told about 1000 party faithful at Auckland's Sky City Convention Centre that his plan to cut taxes, slash red tape, reform the Resource Management Act and limit government spending would lift the economy out of its gloom.
"I'm campaigning on strengthening our economy, on rising to the challenge presented by tough global conditions, and on delivering greater prosperity to New Zealanders and their families."
He attacked Labour's record which he said included soaring inflation and interest rates, a growing wage gap with Australia, an exodus of skilled workers and little in the way of tax cuts.
National's tax package - the central part of its economic plan - met a mixed reaction last week, with critics saying the $15 more a week than Labour's plan it gave to average wage earners by 2011 did not justify halving compulsory KiwiSaver employer contributions and axing business research and development tax credits.
But Mr Key hit out at his critics, saying that National - unlike Labour - was prepared to make the hard calls and be honest about it.
Labour was addicted to spend ups and Finance Minister Michael Cullen's valedictory speech would be signed in "red ink", he said.
"Only National has the backbone needed to deliver for our children and dig this country out of deficit."
Those advising against tax cuts on the grounds they were reckless in the current economic conditions were also wrong.
"Reducing taxes will stimulate the economy and that is what we will sorely need by April next year."
Mr Key said his background as a high flyer in the finance sector left him well placed to deal with the current economic conditions.
"I've actually got stuck into a business, trimmed its sails and delivered some profits to shareholders."
Mr Key reiterated National's other election planks -- a promise to get tough on violent criminals, a "crusade on literacy and numeracy", and putting more government resources into frontline services by cutting bureaucracy.
Questioned later on where National would look to make more savings, Mr Key said National would make some announcements this week.
Mr Key also outlined 11 "Key commitments" which would go out on a card to every household in New Zealand.
He criticised Labour's tolerance of New Zealand First leader Winston Peters and "nanny state" initiatives such as regulating the flow rates of new showers.
New Zealanders were sick of "political sideshows, bossy government and yesterday's fights", he said.
Earlier, National's finance spokesman Bill English warmed up the buoyant but well-mannered audience with an attack on Labour.
- NZPA
