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

 


A fresh economic direction

11th May 2014

A fresh economic direction

“The New Zealand economy must be set on a fresh course to build a more equal society, and to strengthen the domestic economy” said Stephnie de Ruyter, leader of the Democrats for Social Credit Party.

“Instead of the usual twiddling around the economic fringes on Budget Day next week, the Government must implement the major features of the “Chicago Plan Revisited”, as recommended in the International Monetary Fund (IMF) report of August 2012.

“The Reserve Bank, now responsible for providing less than 3% of our money, should produce more of the economy’s money supply, and the trading banks less.

“The IMF report identifies four major advantages of it doing this:
(1) Much better control of a major source of business cycle fluctuations, sudden increases and contractions of bank credit and of the supply of bank-created money.
(2) Complete elimination of bank runs.
(3) Dramatic reduction of the (net) public debt.
(4) Dramatic reduction of private debt, as money creation no longer requires simultaneous debt creation.

“A Democrats for Social Credit government would initially use this Reserve Bank money to pay for infrastructure development at both central and local body level, thereby boosting employment, reducing inflationary pressures, and increasing New Zealand’s competitiveness.

“The IMF report states: “allowing government to issue money directly at zero interest, rather than borrowing the same money from banks at interest, would lead to a reduction in the interest burden on government finances and lead to a dramatic reduction of (net) government debt”.

“It also says there is “nothing that supports the somewhat confused claim of opponents, that such a system would be highly inflationary”.

“Taxation currently wasted on interest payments on government debt would be freed up for spending on health and education.

“Ratepayers would find their rates bills going down as about 10% of rates currently go to pay interest on council debt of $4.9 billion.

“Improved infrastructure would help make businesses more competitive, bring costs down, improve our environment, and provide jobs."

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Hager Revelations: Inquiry Into NZSIS Release Of Goff Docs

The Inspector-General of Intelligence and Security (IGIS), Cheryl Gwyn, announced today that she would be instituting an inquiry concerning allegations that the New Zealand Security Intelligence Service (NZSIS) might have released official information to Mr Cameron Slater, regarding briefings provided to the then Leader of the Opposition, for political purposes...

“I am satisfied there is a sufficient public interest justifying the commencement of an own-motion inquiry into the substance of the issues raised with my Office,” said Ms Gwyn. More>>

Goff: Director’s Letter Contradicts Key’s Claims

At yesterday’s media standup, when asked on the topic John Key said ‘I wasn’t told’...
“In a letter dated November 2011 former SIS director Warren Tucker states three times that ‘in accordance with the usual practice of keeping the minister informed’ the Prime Minister had been told. More>>

  • Image Link - Key maintains he wasn't told about OIA (Now with further evidence) - Newstalk ZB

  •  

    Parliament Today:

    Electionresults.co.nz: National and NZ First Rise in Roy Morgan Poll

    National has bounced back in the latest Roy Morgan Poll but the big winner has been New Zealand First who rise to their highest level of support since September 2013. More>>

    ALSO:

    Fish Pun Warning: By Hoki! It’s Labour’s Fisheries Policy

    A Labour Government will protect the iconic Kiwi tradition of fishing by improving access to the coast, protecting the rights of recreational fishers and reviewing snapper restrictions, Labour’s Fisheries spokesperson Damien O’Connor says. More>>

    ALSO:

    It's Official: Governor General Gives Direction To Conduct Election

    The Governor General has signed the writ directing the Electoral Commission to conduct the General Election on 20 September 2014. This is the formal authority to run the 2014 election, and enables candidate nominations to open tomorrow Thursday 21 August 2014. More>>

    Gordon Campbell: No More Mr Nice Guy

    When future historians seek to identify the exact moment when the prime ministerial career of John Key hit the downward slope, they may well point to Key’s interview yesterday with Guyon Espiner on RNZ’s Morning Report. More>>

    ALSO:

    Dirty (Politics) Weekend: Collins’ Admission Reason For Key To Act

    "Despite claiming that the evidence about her in Nicky Hager's book was ‘false’ Judith Collins has now been forced to admit that she did send information about a Ministerial Services staff member to Cameron Slater for him to use in a baseless smear campaign. More>>

    ALSO:

    Potential Disasters: Underground Coal Fire On Denniston Plateau

    Forest & Bird says one or more coal fires have broken out beneath the Denniston Plateau, and that the Department of Conservation (DOC) must stop Bathurst Resources’ preparatory mining work going on there until the fire or fires are extinguished. More>>

    ALSO:

    Bikes: Nats Plan $100 Million For Urban Cycleways

    Prime Minister John Key has today announced $100 million in new funding will be made available over the next four years to accelerate cycleways in urban centres. More>>

    ALSO:

    New Tax Bracket, Child Poverty Fund: Greens Launch Billion Dollar Plan To Reduce Child Poverty

    The Green Party has launched a billion dollar package to significantly reduce child poverty in New Zealand. The details of the plan were released at the party’s campaign launch in Auckland. More>>

    ALSO:

    Get More From Scoop

     

    LATEST HEADLINES

     
     
     
     
     
     
     
     
    Politics
    Search Scoop  
     
     
    Powered by Vodafone
    NZ independent news