Cullen serves the kids Keynes

Westlake Boys High and Takapuna Grammar students with Dr Cullen. Picture / Greg Bowker

Michael Cullen leans forward on his seat at the Rose Community Centre, North Shore, eyes sparkling.

He likes talking to young people; finds them less cynical. And this group of Year 13 economics students, especially those from Westlake Boys, are briefed and prepared as if for an old-fashioned Bursary exam.

Dr Cullen smiles often at his young audience, tries to get on their wavelength by talking about watching Juice TV, and explains the Labour story.

"We were at a point where one dollar in every four was used to pay debt," he says. "We're right out of that now."

On the other hand, individuals are accumulating personal debt at a rate that alarms our careful Minister of Finance.

North Shore Labour hopeful and Westlake old boy Phil Twyford talks about how Cullen's recent Budget "is really important stuff" affecting "whether your granny can get a hip operation".

"Or a hiphop operation," interjects Dr Cullen, quick as a whip.

The Westlake boys sit armed with their prepared questions; the Takapuna team huddle down the back while the minister talks Keynesian economics and the long-term nature of his economic planning.

Despite the negative polls and general criticism of his Budget, Dr Cullen is upbeat. He is proud that this was a boring Budget.

"I think boring is quite good."

He is also reasonably relaxed about the numbers of young people leaving for Australia and Europe. As he says, he went overseas himself; his children and step-children have also been or are going. What he wants is for them to return.

So what advice does he have for young students when they finish school, he is asked.

"Go to Otago University," says Dr Cullen.

"Why?"

"It's very strong in economics. The law faculty was actually ranked best for research ... and I'm loyal to my old employer, and the old city."

Question time

Shane Phillips, Westlake: Don Brash claims 30,000 Kiwis left for Australia last year. What is your answer to that?

Cullen: Definitely not tax cuts. Our tax rates are low at the top end, high at the low end.

Peter Chiu, Westlake: What makes you so confident that in 2008 we will be in a state to deliver major tax cuts?

Cullen: This coming year we'll have a stimulating effect from the Budget on the economy, which is about what the country can stand.

Peter Bone, Westlake: A Herald DigiPoll survey showed 54 per cent of people are unsatisfied with the Budget and how you dealt with the surplus.

Cullen: Finance Ministers are sitting ducks for everyone to shoot at. You don't expect kisses and hugs. If you haven't been decapitated and had both arms cut off you're doing OK.