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Faulty economic system waits for another death

Faulty economic system waits for another death

“How many more fatalities will it take to consider the black spot on SH2 a ‘priority’”? asks David Espin, Western Divisional President of the Democrats.

No-one should die through lack of road funding, says Espin, but the Government’s practice of borrowing from overseas means a limited amount of ready money for infrastructure. While applauding the new unity of the Waikato mayors, he places the blame squarely on the Government’s faulty economic system of rising national debt.

“We have a perfectly good funding source right here in New Zealand,” Espin asserts. “The Reserve Bank, instead of being the handmaiden of foreign-owned commercial banks, can fund capital works and infrastructure directly, at little or no interest.”

He pointed out the advantages of this method, which would include a reduction of overseas borrowing. New road works and repairs would be paid for only once, rather than over and over through compounding interest charges to commercial banks.

Most importantly, immediate attention could be given to acknowledged needs, such as the SH1 black spot, instead of eking out road repairs through lack of funds.

“The Reserve Bank has the capacity to provide all the funding New Zealand needs,” claims Espin. “It only takes a decision by the Minister of Finance to restore full banking powers to our sovereign lending institution, a decision that would save both money and lives.”

Democrats for social credit will be campaigning hard to bring their Reserve Bank credit policy to the attention of the voting public.

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