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

 


CEOs lack understanding of QE benefits

Media Release

Friday 21 December 2012

CEOs lack understanding of QE benefits

“The poor understanding of economics by the majority of NZ’s top business CEOs is dismaying” said DSC leader, Stephnie de Ruyter.

“This is borne out by the fact that only 2 per cent of New Zealand businesses surveyed in the latest Grant Thornton International Business Report want the Government to implement Quantitative Easing.

“The fact that those CEOs are amongst the most well paid in the country might explain why they are little concerned about a measure that would bring significant benefits to the vast majority of people who are less well off than themselves.

“It would also explain why the additional tax that will come out of Kiwi’s pockets in future to pay for the Government’s increasing borrowing is of little interest to them either.

“And it probably explains why they were happy for our Reserve Bank to use Quantitative Easing to prop up the country’s big banks at the height of the credit crunch of 2008 to ensure the interest rates their companies borrowed at were as low as possible.

“That “printing of money” by the Reserve Bank quietly provided the trading banks with the funding they required without any distortion to the economy.

“Why that process was deemed to be OK for funding private banks owned by a select few overseas shareholders but is not now considered OK for the Government deserves an answer from our top CEOs.

“Why they would want to continue to support increased Government borrowing from those same banks instead of the Reserve Bank, which could provide the same finance at interest rates as low as ½ a percent, defies belief.

Perhaps it’s because they are amongst the privileged few who can afford to have shares in the banks.”

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Election Day: National Win

With all votes counted National and John Key have won a third term and are close to being able to govern alone if they so choose.

Key has indicated he will still reach out to form a Government with ACT, United Future and Maori Party.

National ended the night on 48 percent, Labour 24.6 and the Greens 10. Though special votes might change the margins it is certainly a third term victory for Key defying the political gravity which usually hits parties seeking a third term. Increasing National’s party share is a remarkable political achievement...More>>

Overall Results | Live Results | Predictions |

 


Perfectly-Timed Anniversaries: Suffrage Day Is Last Chance To Enrol

“The last chance to enrol is Friday 19 September. You can’t enrol on election day.” More>>

ALSO:

Gordon Campbell: On First Time Voting (Greens)

For the last two days, I’ve turned my column over to a couple of guest columnists who are first time voters… Today’s guest columnist is Ana Avia-O’Connor, who will be casting her first time vote on Saturday for the Greens. More>>

ALSO:

Meddling: Aussie Liberals Embroiled In Key Campaign

John Key needs to explain why Australia’s Liberal Party is interfering in New Zealand domestic politics and is encouraging Kiwi voters across the ditch to vote for National just days out from the election, Labour’s campaign spokesperson Annette King says. More>>

ALSO:

SURVEILLANCE:

Election Ad Soundtrack: Rapper Eminem Sues National Party Over Copyright Breach

US rapper Eminem is suing the New Zealand National Party for alleged copyright infringement over unauthorised use of the rapper’s ‘Lose Yourself’ song in an election campaign advertisement. More>>

ALSO:

Big March: Call For An End To Domestic Violence

Hundreds of protesters marched down Lambton Quay to Parliament Monday calling for an end to domestic violence. Wearing white facemasks, waving banners and calling for “safety” for the women and children of New Zealand.. More>>

ALSO:

Pre-Election Chartering: Four New Partnership Schools To Open

Education Minister Hekia Parata today announced the Government has signed contracts to open four new Partnership Schools in 2015. More>>

ALSO:

Werewolf 50 Out Now - The Election Issue: Loss Leaders

Gordon Campbell: A third term requires a mature decision, with eyes wide open. It calls for a conscious vote of confidence… Without trying hard here are about 19 reasons, in no particular order, for not ticking ‘party vote’ National. More>>

ALSO:

Not-Especially New Plans: All Prisons To Become Working Prisons Under National

All public prisons in New Zealand will become full working prisons by 2017, and ex-prisoners will receive post-release drug addiction treatment if National is returned to government, says Corrections Spokesperson Anne Tolley. More>>

ALSO:

Māngere: "False Claim Of Matai Title" - Labour

National must explain why its candidate for Māngere Misa Fia Turner appears to be using a Matai title she is not entitled to, Labour’s MP for Māngere and Pacific Islands Affairs spokesperson Su’a William Sio says. A Matai title is a legally-recognised ... More>>

ALSO:

CPAG Report: No New Zealand Child Should Grow Up In Poverty

Child Poverty Action Group's flagship policy publication Our Children, Our Choice: Priorities for Policy calls for cross party political agreement to underpin an action plan to eliminate child poverty in New Zealand. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Politics
Search Scoop  
 
 
Powered by Vodafone
NZ independent news