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

 

Democrats Call for New Funding Mechanism

MEDIA RELEASE

Date: Tuesday, 14 November 2006

Democrats Call for New Funding Mechanism

It is amazing in light of existing experience and knowledge that the Labour government remains in denial of a mechanism which injects money into the economy as interest bearing debt and when government borrows it does so through that mechanism.

Interest on that debt based ‘money’is paid out of our ever increasing burden of tax or in added charges such as fuel ‘levies’ or tolls.

Voters should note the NZ Herald front page item (13/11/06) as an example of the issue, whereby the added interest and administration burden on the primary cost of completing Auckland's western ring route amounts to 2.8 billion dollars.

If the Democrats proposed funding mechanism was in place to provide that funding free of interest there would be no need for the tolling infrastructure and the users/taxpayers/ratepayers would be 2.8 billion dollars better off.

Of course when anyone mentions changing the 300 year-old concept of building our economy on the back of interest bearing debt a few people, especially some politicians and economists, choose to close ranks and become extremely defensive.

Democrats say their concern should be on the huge burden our kids and grandkids will have to carry if the present system prevails.

The point is that if governments can (and do) sanction a privately owned interest bearing debt mechanism why not sanction one to create interest free funding for our nations infrastructure, as an alternative to the existing methodology or should that read mythology?

People (voters) need to question why our politicians are still failing to find solutions to the same issues that were extensively debated 22 years ago at the 1984 Lange/Labour Government Economic Summit.

The answer is that a new economic approach is needed and only the NZ Democrats are promoting it.

ENDS

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Why Worksafe’s Whakaari/White Island Prosecutions Are Good News

Somewhere in Heaven, Helen Kelly must be smiling about Worksafe’s criminal prosecution of 10 firms and three individuals for their roles in the lead up to the Whakaari /White Island tragedy. In tandem with the subsequent coronial inquest, these court proceedings will hopefully culminate in the creation ( finally!) of a central agency to regulate the adventure tourism sector and improve public safety on matters like risk assessment, safety guidelines, inspection, enforcement and injury reporting... More>>

 

UN SDG: A Greener, Cleaner, Brighter Future

'The world has a high fever and is burning up. Climate disruption is daily news – from devastating wildfires to record floods. The damage to people and the environment is immense and growing.' - UN Secretary-General António Guterres ... More>>

ALSO:

Carbon Neutral Policy: Gov Declares Climate Emergency

The Government has launched a major new initiative to combat climate change that will require the public sector to achieve carbon neutrality by 2025. More>>

ALSO:

Pill Testing: Govt Moves On Drug Checking To Keep Young New Zealanders Safer This Summer

The Government will pass time limited legislation to give legal certainty to drug checking services, so they can carry out their work to keep New Zealanders safer this summer at festivals without fear of prosecution, Health Minister Andrew Little ... More>>

ALSO:

Tax: Government Fulfils Election Undertaking On New Top Tax Rate

The Government will today keep its election promise to put in place a new top tax rate of 39 per cent on income earned over $180,000. More>>

ALSO:

Media: Stuff Holds Itself Accountable For Wrongs To Māori

Stuff has today published the results of an investigation into itself, and issued a public apology, for the way the media organisation has portrayed Māori, the indigenous people of Aotearoa New Zealand, from its first editions to now. Tā Mātou Pono | More>>

ALSO:

Economy: Crown Accounts Reflect Govt’s Careful Economic Management

The better-than-expected Crown accounts released today show the Government’s careful management of the COVID-19 health crisis was the right approach to support the economy. As expected, the Crown accounts for the year to June 2020 show the operating balance ... More>>

ALSO:


 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels