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Cullen: Recession unlikely – 20 Mar 2008 – Politics: New Zealand Political News, Analysis and Comment including 2008 election coverage – NZ Herald

Cullen has changed his tune over the recession we are going to have, or not have, or maybe we will but it is only a little one……

Finance Minister Michael Cullen is standing by his comment that it would be foolish to rule out a recession – but has now added that he does not think one will actually happen.

Dr Cullen was criticised yesterday by the National Party for saying on Tuesday that he could not rule out a recession given concerns about a drought, the weakening housing market and international financial turmoil.

Dr Cullen said yesterday that he did not regret what he had said, but wanted to emphasise that the comment did not mean he expected a recession.

So what is it Mr Cullen, recession or no recession, or will you just cook the books like you did last week to suit yourself?

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