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

 


Christchurch needs a John A Lee

Christchurch needs a John A Lee

The funding crisis being faced by the Christchurch City Council would be solved in a heartbeat if John A Lee was still in parliament, Chris Leitch, Democrats for Social Credit finance spokesman said today.

Responsible for housing in the first Labour government of 1935, he used the Reserve Bank to fund the building of thousands of state houses, a move based on his understanding of what was possible using social credit economic theory.

The 1949 report of the Ministry of Works says: “The sums advanced by the Reserve Bank were not subscribed or underwritten by other financial institutions. This action showed the Government’s intention to demonstrate that it was possible for the State to use the country’s credit in creating new assets for the country”.

The 2012 report of the International Monetary Fund states : “allowing the Government to issue money directly at zero interest, rather than borrowing that same money from banks at interest, would lead to a reduction in the interest burden on government finances and to a dramatic reduction of (net) government debt, given that irredeemable government-issued money represents equity in the common wealth rather than debt.”

The report recommends the use of such measures.

The use of social credit ideas contributed to New Zealand coming out of the crisis that was the great depression long before most other countries.

Christchurch is facing a similar crisis, and Reserve Bank funding is the only sensible way to solve it.

Ends


© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

TAIC: Final Report On Grounding Of MV Rena

The Transport Accident Investigation Commission (the Commission) concluded that the Rena grounding was not in any way attributable to the malfunction of any on-board machinery or equipment, including on-board navigational equipment. Factors that directly contributed to the grounding included the crew:

- not following standard good practice for planning and executing the voyage
- not following standard good practice for navigation watchkeeping
- not following standard good practice when taking over control of the ship. More>>

ALSO:

 
 

Parliament Adjourns:

Gordon Campbell:
On The Pakistan Schoolchildren Killings

The slaughter of the children in Pakistan is incomprehensibly awful. On the side, it has thrown a spotlight onto something that’s become a pop cultural meme. Fans of the Homeland TV series will be well aware of the collusion between sections of the Pakistan military/security establishment on one hand and sections of the Taliban of the other… More>>

ALSO:

Werewolf Satire:
The Politician’s Song

am a perfect picture of the modern politic-i-an:
I don’t precisely have a plan so much as an ambition;
‘Say what will sound most pleasant to the public’ is my main dictum:
And when in doubt attack someone who already is a victim More>>

ALSO:

Flight: Review Into Phillip Smith’s Escape Submitted To Government

The review follows an earlier operational review by the Department of Corrections and interim measures put in place by the Department shortly after prisoner Smith’s escape, and will inform the Government Inquiry currently underway. More>>

ALSO:

Intelligence: Inspector-General Accepts Apology For Leak Of Report

The Inspector-General of Intelligence and Security, Cheryl Gwyn, has accepted an unreserved apology from Hon Phil Goff MP for disclosing some of the contents of her recent Report into the Release of Information by the NZSIS in July and August 2011 to media prior to its publication. The Inspector-General will not take the matter any further. More>>

ALSO:

Drink: Alcohol Advertising Report Released

The report of the Ministerial Forum on Alcohol Advertising and Sponsorship has been released today, with Ministers noting that further work will be required on the feasibility and impact of the proposals. More>>

ALSO:

Other Report:

NSW Police Statement: Three Dead Following Martin Place Siege

About 2.10am (Tuesday 16 December), a confrontation occurred between police and a man who had taken a number of people hostage inside a café on Martin Place. Shots were fired during the confrontation. As a result, the 50-year-old man was pronounced dead after being taken to hospital. Another man, aged 34, and a woman, aged 38, were pronounced dead after being taken to hospital. More>>

ALSO:

Gordon Campbell: On The Sydney Siege (And DHB Budget Cuts)
Whenever the authorities bring a siege situation to an end, there will be criticism if – as has happened in Sydney – any hostages are seriously hurt, or killed... In the Sydney Morning Herald this morning, columnist Peter Hartcher raises a different point – that the initial public response had been noticeably different to the agitated reactions of politicians and the media. More>>

ALSO:

Leaked Cabinet Papers: Treasury Calls For Health Cuts

Leaked Cabinet papers that show that Government has been advised to cut the health budget by around $200 million is ringing alarm bells throughout the nursing and midwifery community. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Politics
Search Scoop  
 
 
Powered by Vodafone
NZ independent news