Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search


Democrats Call for New Funding Mechanism


Date: Tuesday, 14 November 2006

Democrats Call for New Funding Mechanism

It is amazing in light of existing experience and knowledge that the Labour government remains in denial of a mechanism which injects money into the economy as interest bearing debt and when government borrows it does so through that mechanism.

Interest on that debt based ‘money’is paid out of our ever increasing burden of tax or in added charges such as fuel ‘levies’ or tolls.

Voters should note the NZ Herald front page item (13/11/06) as an example of the issue, whereby the added interest and administration burden on the primary cost of completing Auckland's western ring route amounts to 2.8 billion dollars.

If the Democrats proposed funding mechanism was in place to provide that funding free of interest there would be no need for the tolling infrastructure and the users/taxpayers/ratepayers would be 2.8 billion dollars better off.

Of course when anyone mentions changing the 300 year-old concept of building our economy on the back of interest bearing debt a few people, especially some politicians and economists, choose to close ranks and become extremely defensive.

Democrats say their concern should be on the huge burden our kids and grandkids will have to carry if the present system prevails.

The point is that if governments can (and do) sanction a privately owned interest bearing debt mechanism why not sanction one to create interest free funding for our nations infrastructure, as an alternative to the existing methodology or should that read mythology?

People (voters) need to question why our politicians are still failing to find solutions to the same issues that were extensively debated 22 years ago at the 1984 Lange/Labour Government Economic Summit.

The answer is that a new economic approach is needed and only the NZ Democrats are promoting it.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Scoop 3.0: How You Can Help Scoop’s Evolution

Entering into its third decade of operation, the Scoop news ecosystem is set to undergo another phase of transformation and evolution.

We have big plans for 2018 as we look to expand our public interest journalism coverage, upgrade our publishing infrastructure and offer even more valuable business tools to commercial users of Scoop. More>>


Speaking Of Transport: Public Engagement On Wellington Scenarios

“Our work on possible solutions for Wellington’s transport future is ongoing, but has progressed to the stage where we’re ready to share our ideas with the public and seek their feedback to help guide our next steps...” More>>


Parental Leave: National's Time-Sharing Change Fails

National has proposed a change to the Parental Leave and Employment Protection Amendment Bill that would allow both parents to take paid parental leave at the same time, if that is what suits them best. More>>


Train Free Thursday: Workers Strike To Defend Terms Of Employment

"They signed up to these conditions a year ago when they got the contract for Wellington's rail services. Now they're trying to increase profits by squeezing frontline workers." More>>


Seclusion: Ombudsman Emphasises Importance Of Monitoring

Disability Rights Commissioner Paula Tesoriero says that while there have been changes to the Education (Update) Amendment Act 2017 to prohibit the use of seclusion, the report is an important reminder of the importance of regular monitoring of schools. More>>


United Future History: "All Good Things Must End"

'We’re extremely proud of what we’ve achieved over the past 15 years, working alongside the government of the day, both National and Labour.' Mr Light told members on Monday. More>>

Gordon Campbell: On The TPP Outcome, And The Hobbit Law

Somehow the Trans Pacific Partnership trade deal has come lurching back from the dead – and as predicted in this column last week, the member countries gathered in Vietnam have announced a deal in broad principle, shunted aside until a later date the stuff on which they don’t agree, and declared victory. More>>

Agreeing To Differ: Greens Maintain Opposition To TPPA
“The Green Party has long opposed the TPPA. The new proposed deal, which came out of the weekend’s talks, still contains key ISDS concessions to corporations that put our democracy at risk, so our position remains the same,” said Green Party trade spokesperson Golriz Ghahraman. More>>


Monitoring Report: A New Chapter For Children’s Rights In New Zealand?

The Children’s Commissioner is calling on the country to embrace children’s rights to ensure their overall well-being. More>>





Featured InfoPages

Opening the Election