Audrey Young: Goff flaps as Key talks cash

Labour leader Phil Goff looks on as Prime Minister John Key makes a point. Photo / Simon Baker

There hasn't been a leaders' debate quite like this one. Hosted by the Press newspaper, held in Christ's College and moderated by ... well, no one. Not in the second half anyway.

The first session about the earthquake was composed and structured and Goff was better prepared than Key.

But things changed in the second, and the result was fantastic - they were pretty much left standing at a lectern debating each other, bouncing uncontrollably from issue to issue.

Goff asked the questions of Key and Key asked the questions of Goff. They ran the show.

Press editor Andrew Holden and Fairfax political editor Tracy Watkins were on stage but well off to the sides and, whether by accident or calculation, did not intervene when things got heated, probably for over half an hour.

Once Key realised he could do what he liked, he pressed Goff on the revenue gap - at least $14 billion - to meet Labour's spending promises.

When Goff couldn't come up with a good enough answer, Key pressed him again and again.

Key, a former currency trader, was very cocky. He bragged about how good he was with money and demanded to know where Labour would get the funds for its policies: "Show me the money ... It ain't there, son".

Goff, who had put in a much better performance than Key until the costing gap came up, visibly wilted under the pressure.

He had no answer besides saying Labour would issue a spreadsheet before the election and that there would be a bit more borrowing.

So Labour's answer to New Zealand's debt crisis is to more borrowing, Key crowed.

Key grabbed the opportunity given to him last night to reset the agenda.