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

 

National’s Debt Comments A Losing Strategy

National’s response to the government loosening of it's debt target shows it has learnt nothing from it's 9 years in government or it's electoral defeat.

The budget's fiscal responsibility rules are a false constraint, manufactured mainly to keep the financial pariahs of the money markets happy. They have little to do with the needs of people in the real economy.

National’s finance spokesperson Amy Adam's has proven that she's far more interested in pleasing the markets than in housing kiwis, providing people with decent health care, making sure pensioners live without fear of being robbed, or ensuring children get a good education.

Finance Minister Grant Robertson should now go one step further and access funding from the Reserve Bank at zero interest as provided for in the Public Finance Act.

Section 47 of the act gives him the power to borrow from whatever source he chooses provided it's in the public interest.

Accessing funds from the Reserve Bank at zero interest would fit that requirement perfectly, and cut to shreds the $6 billion in taxpayer’s money currently squandered paying interest on loans from the private sector.

An interest-free debt owed to oneself that is rolled over from year to year is effectively void -- a debt "jubilee."

Japan currently funds 49% of government borrowing directly from its own central bank and there's absolutely no reason why New Zealand could not do the same.

Amy Adam's would be better to adopt the stance of the 3rd wise monkey rather than reminding people about her party's dismal performance in providing services that people desperately needed.

Continuing down the road she is going will simply remind people about why they should no longer support National.



© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

SCOOP COVERAGE: CHRISTCHURCH MOSQUES TERROR ATTACK


Fair Pay Agreements Good: CTU Releases Report On Sector Bargaining

The Council of Trade Unions has today released an independent report conducted by economic research company BERL into the validity of sector bargaining.

And the findings are clear - there is no economic reason not to implement sector bargaining but many social and individual wellbeing reasons to do so. More>>

 

Goldsmith New National Finance Spokesperson: Amy Adams To Leave Politics In 2020

Amy Adams has announced she will retire from politics at the 2020 election and as a consequence of that decision she has chosen to stand down from the spokesperson roles she holds in the Party. More>>

ALSO:

Gordon Campbell: On The Government's Cosmetic Banking Reforms

The elephant in the room as the government carries out its latest bout of tinkerings with our banking practice is the extraordinary level of profit-taking still being extracted by the Australian Banking Gang from ordinary New Zealanders. Yes indeed, ... More>>

ALSO:

IPCA: Offensive Language, Misuse Of Pepper Spray

The Independent Police Conduct Authority has found that, following a pursuit in Auckland, a man was dealt with inappropriately and unprofessionally by a Police officer during his arrest. More>>

ALSO:

Stats NZ: Gender Inclusive Questions Introduced

More than 28,000 New Zealand households will be asked to take part in the upcoming Household Economic Survey. Starting this year, the survey will ask people to describe their gender – whether that is male, female, or if they see themselves another way, such as one of many non-binary genders. More>>

New Report: Are We Listening To Children?

A report released today is a sharp reminder that what children and young people say makes a difference, and that it’s time we paid more attention to their views, says Children’s Commissioner Andrew Becroft. More>>

ALSO:

The Nation: Canadian Euthanasia Practitioner Stefanie Green

The euthanasia debate is progressing, with the End of Life Choice Bill expected to have its second reading in Parliament on Wednesday. A similar bill was passed in Canada in 2016 ... More>>

ALSO:

Gordon Campbell: On The Gun Buy-Back Scheme

Do gun amnesties and buy-backs save lives? Since it’s always difficult to exclude all of the socio-economic factors that may be operating in parallel, the die-hard denialists in the gun lobby will always be able to find a bit of wiggle room. More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels