PRESS RELEASE

FOR IMMEDIATE RELEASE
Recession

Nine Day Fortnight Is Economic Lunacy

Echoing comments made by Austrian economists such as George Reisman and Peter Schiff, Libertarianz leader Richard McGrath said attempts by governments to intervene during a time of market correction will prove counter-productive and costly in the long run.

“The nine-day fortnight is just the latest example of voodoo economics, promoted by ignoramuses, whereby successful businesses will be forced to subsidise the unsuccessful,” said Dr McGrath. “The alternative would be for the government to stand back, and allow successful industries and employers to expand and flourish so they can soak up unemployment by hiring staff and reallocating resources from failing enterprises.”

“The reality is that some businesses have to be allowed to go under,” he added. “There is no point propping up doomed industries and companies whose products are unwanted or whose structure is unsound. Winners – those who sell products and services for which there is actual demand – should not be sacrificed to losers. Governments have a bad habit of backing losers, or for turning those they try to support into losers. The Libertarianz Party believe in allowing the necessary adjustment in trade markets to occur without political interference.”

ENDS

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"Unlawful, Unjustified And Unreasonable": Report Into Urewera Raids Finds Police Acted Unlawfully

Independent Police Conduct Authority Chair Judge Sir David Carruthers said today that the decision by the then Commissioner of Police to undertake the operation in Ruatoki Valley and elsewhere on 15 October 2007 was reasonable and justified.

“However, the road blocks established by Police at Ruatoki and Taneatua were unlawful, unjustified and unreasonable... Police had no legal basis for stopping and searching vehicles or photographing drivers or passengers,” he said...

The report also showed that the detention of the occupants at five properties examined by the Authority was unlawful and unreasonable. More>>