John Howard admits that his election ad about record low interest rates in 2004 was a porkie (pie, not barrel). But, but, there are excuses...

Another excerpt from Howard's interview with one of his favourite radio interviewers, 3AW's Neil Mitchell. With friends like these...

PRIME MINISTER:
I’ve never guaranteed that interest rates would never go up and you and I have had a very concise exchange on that subject just before the last election.
MITCHELL:
Well yeah but your advertising did.
PRIME MINISTER:
Well the advertising just very briefly at the early part of the campaign…
MITCHELL:
It said keep interest rates at record lows. Well, that promise is broken isn’t it?
PRIME MINISTER:
Well that particular advertisement lasted two nights, and then it disappeared and you didn’t get out of my mouth…
MITCHELL:
No, I didn’t, but that promise was broken from that advertising wasn’t it?
PRIME MINISTER:
Well, interest rates are not at record lows now, I understand that.
MITCHELL:
And your advertising promised that.
PRIME MINISTER:
Well the advertising did refer to that for two nights, I accept that.
MITCHELL:
It was a two night promise Prime Minister?
PRIME MINISTER:
No, no well look. You’re asking me the question…
MITCHELL:
Well look, you know, Labor’s going after you on the basis of broken promise. Now I know…
PRIME MINISTER:
I understand that and I’m…
MITCHELL:
And that the advertising was, does now look dishonest.
PRIME MINISTER:
Yes, well, look, I acknowledge what was said, I acknowledge that but can I just say to you and to your listeners that what really matters now is which side of politics is better able to manage an increasingly hostile financial environment. Isn’t that the question?