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Wellington: John Key became New Zealand's conservative new prime minister Wednesday and underscored the economy as his top priority, planning to head for a Pacific Rim summit the following day to discuss the global financial crisis.
Key, whose centre-right grouping toppled nine-year Prime Minister Helen Clark in November 8 elections, took the oath of office along with his Cabinet ministers in front of Governor General Anand Satyanand at Parliament House.
Key noted that his new government was assuming power against a "backdrop of a very serious international economic crisis," and pledged to ensure "greater prosperity" during his three-year tenure.
He became the country's 38th premier after his National Party won the most seats in the 122-seat Parliament, moving quickly to forge support agreements with three minor parties that gave him a majority of 70.
With the economy in recession throughout 2008 and no growth expected before mid-2009, Key already has signaled that a stimulus package of tax cuts and government infrastructure spending will be in place by early next year.
He pledged during the election campaign to boost the flailing economy and soften Clark's ambitious environmental policies.
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