John Key New Zealand Prime Minister debt induced GST broken promise.

In 2010 the John Key lead New Zealand National Party Government increased GST from 12.5% to 15% In this video, taken during an election campaign press conference in 2008, Mr Key was asked to rule out a hike in GST after suggestions the next government would have no choice but to raise GST to 15 per cent, and raise taxes. Mr Key's response to the question was: "National is not going to be raising GST. National wants to cut taxes not raise taxes. We acknowledge the point that John Shewan (Price Waterhouse Cooper tax consultant) is making. Which is that there is a decade of deficits facing New Zealand. But that comes back to our core point, the fastest way to eliminate those deficits and get New Zealand back into surplus is to get New Zealand growing again. So we have two issues, we have a security, or liquidity issue at the moment, and that's the purpose of trying to resolve the wholesale banking scheme. The second part of that is getting New Zealand on the growth agenda. Current Government (Then Labour) have had nine years to do that and failed" Mr Key was asked by a reporter “ So you would look to borrow rather than increase revenue gathering” John Key “We want to grow our economy” To which the reporter asked further “If you run out of money, in very simplistic terms, where do you go” John Key “ In the short term everyone is going to be borrowing. Because we have got an anticipated deficit for the next year and the year after. And the growth rate is not going to turn around anytime soon. I mean the economy is in recession. In fact the global economy is in recession. But He's (Mr Shewan) talking about having to raise GST and the top personal tax rate maybe in five years time and what I am saying is if we do a half decent job as a government at growing our economy I am confident that won't be happening, that's not on our agenda.” End