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Minister's Door Closed on Waste-to-Energy Plants
Media Release 18th November
From: Chris Leitch, Leader
Despite attempts for months by experts in waste-to-energy plants to get an appointment to see her, Green’s Associate Environment Minister Eugenie Sage has refused all approaches, claiming WtE plants “don’t fit with the government’s waste reduction plans”.
But the German Federal Environment Agency says that “there are several reasons that the claim that waste incineration is thwarting waste prevention efforts is unsustainable’.
They also say “waste incineration is making a contribution to climate protection and helps save natural resources” in Germany.
Emissions from the new generation plants are negligible, while rubbish dumps generated methane, said to be the worst of greenhouse gases, and CO2.
Ms Sage appears to have a luddite view of new technology in the waste disposal field preferring to see waste buried in the ground leaving the after effects, like the possibility of toxins leaching into waterways, for future generations to deal with.
She is out of step with the Green Party in Germany who are promoting a complete ban on land-filling by 2020.
They maintain that landfill sites are “black boxes with uncontrolled biological and chemical processes that need intensive care for generations, with a permanent danger of leaks and tears”, likely to “cause major impacts on groundwater and soil”.
Over 2000 pyrolytic plants operate across the world in countries like Japan, Norway, Sweden, France, Germany, Belgium and other European countries and recover a substantial value of material from the waste stream before turning the remainder into electricity, slag for use in road building, and ash.
Social Credit would fund the building of a WtE plant south of Auckland where demand for rubbish disposal and electricity are both fastest growing, and ensure ownership remained in New Zealand hands.
We want the government to pass legislation requiring at least 60% of waste to be re-processed by 2025 rather than being dumped into landfills.
Those countries with waste to energy plants are taking responsibility for their own rubbish disposal where-as Ms Sage appears happy for New Zealandto send much of ours off-shore for someone else to deal with and simply bury the rest in the ground and hope it goes away.
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Govt Should Invest in Waste to Energy Plant
Media Release 13th November
From: Chris Leitch, Leader
The Government should invest in building a waste to energy plant south of Auckland.
Landfills are the least preferable option for rubbish disposal, and with new technologies, waste to energy plants have the potential to be carbon negative.
In addition the government should pass legislation requiring at least 60% of waste to be re-processed by 2025 rather than being dumped into landfills.
A planned new rubbish dump site in the Dome Valley will cover 1000 hectares and, in addition to being a blot on the landscape, will waste an enormous resource that could be turned into profit.
While the vast majority of waste collected in New Zealand goes into rubbish dumps, waste to energy plants like those in Norway recycle a much greater amount of usable material from the waste stream, and what is left is burnt at very high temperatures and turned into energy.  
Emissions from the new generation plants are negligible, while rubbish dumps generated methane, said to be the worst of greenhouse gases, CO2, and have the possibility of leaching into waterways, killing fish and plant life.
A plant south of Auckland would be close to New  Zealand’s fastest growing cities, and take rubbish from the whole of the country. Railways could carry the bulk of the load with a combination of rail and coastal shipping handling South Island rubbish.
This would take large numbers of heavy trucks off the road and be far more efficient, less polluting and make roads safer for other users. In the case of the Dome Valley site, that would mean 300 fewer return trips by truck and trailer units on the main road North daily.
Carbon capture is underway in Norway as is production of fuel from captured carbon in Canada.
Government rhetoric about climate change, waste reduction, and road safety won’t cut it. It needs to take action now.

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Banks Slapped With Wet Bus Ticket By FMA and Reserve Bank
Media Release 6th November
From: Chris Leitch, Leader, Social Credit Party
The recommendations of the report from the Financial Markets Authority and Reserve Bank into the conduct and culture of 11 New Zealand banks are no more than a slap across the wrist with a wet bus ticket.
The report’s statement that “the regulators identified significant weaknesses in the governance and management of conduct risks” is simply window dressing to make it look like there was an enquiry of some substance, when there was not.
The recommendations of the review should be seen as more of a self protection exercise for the reviewers given that it was carried out by the regulators of the banks, who in Australia were shown by the Royal Commission to be just as culpable as the banks themselves.
Why did the report not deal with how the ANZ in New Zealand was able to extract $2 billion in profit out of the pockets of 4.8 million Kiwis?
That’s equivalent to the population of Sydney, yet despite all the shenanigans the banks got up to in Australia, it only managed to make $6 billion out of the whole of Australia?
Why have the banks got a strangle hold on our money supply, creating 98 percent of it, when the Reserve Bank has the ability to create some and enable government investment into health, education, housing, and infrastructure projects.
The same could be done to provide low interest loans for first home buyers.
This would grow the economy, reduce debt, and save taxpayers and first home buyers enormous sums of interest.
How is it that the banks charge Kiwi home buyers as much as 5.9 percent interest on money they don’t have until it is created on their computer keyboards.
The loan fees and interest are the major contributors to the massive profits the banks are extracting out of the New Zealand economy and shipping off to their overseas owners, depleting our economy of much needed capital.
The idea that banks lend out money people deposit with them is a myth, a fact confirmed by the former governors of both the Bank of England and the Bank of Canada.
The report is a whitewash claiming all is well, and that despite a few minor misdemeanours, we can have confidence in our banking sector.
They should have asked the hard questions.

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John Key's Cynical Pre-emptive Banking Strike
Media Release 3rd November
From: Chris Leitch, Leader, Social Credit Party
John Key’s call for stricter regulations for banks is a cynical and carefully planned pre-emptive strike on behalf of the ANZ and other banks ahead of the release of a report from the Financial Markets Authority and Reserve Bank next week.
As ANZ’s New Zealand chairman and a member of the Australian ANZ board he hopes to be able to argue that “all is well, we have already put in place measures that will address the issues the Australian Royal Commission and this inquiry has raised”, and, as he has already attempted to portray “NZ banks don’t operate the same as the Australian banks”.
But if there isn’t a problem, then why call for stricter regulations?
The strategy is designed to try and avoid a more detailed investigation into banks operating in New Zealand, and deflect attention from the enormous two thousand million profit that ANZ has made in the last year.
97% of that profit, over $400 for every person in the country, was pulled out of New Zealand and shipped off to ANZ’s overseas owners, depleting our economy of much needed capital.
Most of the profit was made by the bank lending money it doesn’t have and then charging interest on those loans.
The idea that banks lend out money people deposit with them is a myth, a fact confirmed by the 1955 Royal Commission on Money and Banking in New Zealand.
Bernard Hickey put it succinctly recently – “They invent money out of nothing whenever they lend. The only thing stopping them from going completely berserk is central banks force them to keep some of their capital aside whenever they make a loan. So that's the dirty little secret of international finance.”
Social Credit would make banks keep a much larger percentage of their capital on deposit with the central bank (Reserve Bank) which would restrict their debt creating activities and reduce their profit.
The Reserve Bank would tasked with replacing that private bank lending with funds for the government and local bodies to invest in health, education, housing, and infrastructure projects, and for low interest loans for first home buyers, saving taxpayers, ratepayers and first home buyers enormous sums of interest.
We would also provide Kiwibank with the capacity to reduce its interest rates and its fees, which would introduce some real home grown competition for the big four Aussie banks.

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Winston's great TPPA con job
Media Release 1st November
From: Chris Leitch, Leader, Social Credit Party
Winston Peters can today celebrate how he got away with the greatest political con job in recent years.
With Australia having now signed the Trans Pacific Partnership Agreement which triggers its formal activation, Peters, who was the most vocal critic of the deal while in opposition, can now, as Foreign Minister with all the baubles of office, oversee putting it into operation.
Thousands of New Zealanders will be kicking themselves for voting for NZ First at the last election on the promise the party would continue to campaign against the toxic deal if they got into parliament.
Their vote was reinforced by the private members bill the party promoted through its current deputy leader Fletcher Tabuteau which sought to ban both the TPPA and all further agreements of its type.
They must be choking to hear Trade Minister David Parker make the preposterous claim that the deal “has benefits that will spread throughout the economy to every person in New Zealand from the factory floor to the farm owner”.
The underwhelming benefit of $200 million in tariffs that would supposedly be saved each year equates to the enormous sum of 81 cents per week if it were distributed to every person in New Zealand, which it won’t be.
Even the “estimated” $3 billion a year in GDP benefit in 10 years time would make Kiwis better off by just $12.14 per week it they got it, but in reality, the largest share of it will go to the overseas corporations that already own nearly half the country’s biggest businesses.
That pales in insignificance when compared to the benefit all Kiwis would gain from the investment back into the country of the $6 billion every year the government currently pays in interest to mostly foreign owned financial institutions who fund its borrowing.
The government could instead use the central bank (Reserve Bank) to access the funds it needs, as Japan is doing, using that wasted interest to fund major investment in health, education, housing, and infrastructure projects – a solution that was implemented by the government in the 1930’s.
Social Credit would not compromise on restoring New Zealand’s sovereignty over its own affairs should it be in any position such as Winston Peters found himself just 12 months ago.

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Barnett's "foolish" statement laughable
Media Release 20th October
From: Chris Leitch, Leader, Social Credit Party
The statement from Auckland Chamber of Commerce head Michael Barnett that "being afraid of where the money comes from [for the Penlink project] to my mind is foolish” is laughable if only it wasn’t so tragic.
Mr Barnett is advocating that Penlink users pay an additional $700 million in tax (because that is what a toll actually is) over and above the actual cost of building the highway.
According to his figures revenue from the toll expected to be levied amounts to an average of $125,000 per day. Over the 25 year life of the BOOT (Build, Own, Operate & Transfer) that amounts to $1.1 billion for a project costing $400 million to build.
Finance for the Chinese consortium offering to build and operate the project will be provided through one of the six Chinese Development Banks by the Central Bank of China.
Why is Mr Barnett proposing to use the Chinese Central Bank to fund the project when New Zealand’s central bank could just as easily provide that finance?
It could do so with minimal interest, saving commuters around $500 million dollars – profit the Chinese financiers will ship off overseas, adding to our overseas debt.
Mr Barnett is one of a number of business and political leaders who, through either ignorance, naivety or stupidity, are being seduced by China’s ready supply of money into believing there is mutual benefit in its involvement in New  Zealand’s economy.
The list includes many former National and Labour Party high flyers.
Ruth Richardson and Chris Tremain are directors of Bank of China in New Zealand; Don Brash chairs the Industrial Bank of China in New  Zealand; and former Prime Minister Dame Jenny Shipley chairs the New  Zealand subsidiary of the China Construction Bank.
Sir Bob Harvey fronts the One Belt One Road Promotional Council, and Sir Bob Parker chairs the Hauxin Group, a partnership for the Christchurch rebuild, and is CEO of Huadu International NZ.
Is it their business expertise or their ability to open doors that has made them attractive?
Let’s be clear, overseas investors are interested in only one thing – profit.
Mr Barnett’s last word on Penlink was “In our opinion, it could/should start tomorrow.” Yes it could – financed by our own bank – the Reserve Bank.

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Chinese Government To Own Penlink Highway
Media Release 8th October
From: Chris Leitch, Leader, Social Credit Party
If the bid by a Chinese construction company goes ahead, the Chinese Government will effectively finance the Penlink highway and own it for the next 25 years.
This is because the group offering to finance and build it is majority owned by the Chinese Government.
We should not allow an overseas government to own a major piece of transport infrastructure and despite comments from Ministers and Auckland Chamber of Commerce head Michael Barnett, the New Zealand Government could easily finance the construction.
In an article in the NZ Herald on February 26th 2012, financial commentator Bernard Hickey wrote “It's time the Reserve Bank of New Zealand started printing money and lending to our government to build houses and infrastructure”. “We've been here before and right now our major trading partners are doing exactly this”.
The findings of an International Monetary Fund report released in August 2012 titled “The Chicago Plan Revisited” fully support funding of that nature.
The report recommends funding direct from the central bank (the government owned Reserve Bank) with no attached interest cost, which could be used for infrastructure development.
Michael Barnett is wrong when he states it doesn’t really matter where the money comes from, because will cost twice as much if the project is financed from overseas.
Tolls would not be necessary If the money comes from the Reserve Bank.
The Public Finance Act (1989) permits the borrowing of funds from the Reserve Bank of NZ on terms favourable to the public interest.

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Port Sale A Dumb Decision
Media Release 5th October
From: Chris Leitch, Leader, Social Credit Party
The Hawke's Bay Regional Council's preferred option of selling off nearly half the shares in the port is a dumb decision, the equivalent of the best restaurant in town selling off its kitchen so it can extend the dining room.
In an address to a meeting in Napier, party leader Chris Leitch said the loss of half its income from the port would make rates rises a certainty.
In a few years the Council will be facing the same issue again, leading to either a further sale of shares or sky high rates rises in the future.
Those advising the Council were acting in the best interests of potential purchasers of the shares not the Council nor Hawke's Bay ratepayers.
The Council should be joining with other councils to petition the government to make funds available through the country's central bank as recommended in a 2012 report from the International Monetary Fund.
Reserve Bank funding could be provided at a nominal interest charge, with repayments matched by the income an expanded port would provide.
The legislation is already in place in the Finance Act that allows the Minister of Finance to set up a funding arrangement from the bank.
The government has already signed off on interest free loans of $158 million for Tauranga, $339 million for Auckland, and $181 million for Hamilton, the money coming from taxes or borrowing.
If the money was sourced from the Reserve Bank the result would be a "fit for purpose" port that would assist with the expansion of economic activity in the region at no cost to ratepayers or taxpayers.
Ratepayers should demand a referendum, not rely on a "mock" consultation process where the council will ignore submissions in favour of advice from its overpaid consultants.
Councillors who vote in favour of such a dumb decision as selling off port shares should be put on notice that they will not retain their seats at next year's local body elections.

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Call To Remove Fuel Taxes
Media Release 3rd October
From: Chris Leitch, Leader, Social Credit Party
Social Credit is calling on the government to remove all taxes on fuel.
In an address to a meeting in Whanganui, party leader Chris  Leitch said the high price of fuel was strangling small to medium sized  businesses and putting undue pressure on the budgets of low and middle income families.
Those families were getting hit with a double whammy due to the extra they needed to find for fuel costs, and the rising prices of the goods and services they purchased, the price of which was being forced up by fuel price hikes.
Cutting government taxes would reduce the price of fuel by 85 cents per litre, bringing prices on food, clothing, and everything else in the shops down, leaving more money in consumer's pockets, and help restore small business profitability.
The loss in revenue to the government could be replaced by copying what the third largest economy in the world, Japan, is doing and accessing funding from the country's central  bank.
Currently the Bank of Japan holds 46% of Japanese government debt, which is costing the government zero in interest payments.
By comparison New Zealand taxpayers pay $5 billion every year in  interest on the government's borrowing, most of it going to overseas pension funds and the American owned Aussie banks that dominate the New Zealand banking landscape.

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No Globalist Agenda
Media Release 30th September
From: Chris Leitch, Leader, Social Credit Party
"The Prime Minister's address to the United Nations has put her, and the Government's mulit-lateral globalist agenda front and centre. That's not an agenda that Social Credit agrees with", party leader Chris Leitch said in an address to the party's Waikato Regional meeting in Hamilton yesterday.
It's now clear why Labour, and their partner NZ First, despite loud protestations before the election, proceeded apace with the ratification of the TPPA and are negotiating several more similar agreements that threaten NZ's sovereignty.
It's now clear why they've allowed the high level of immigration to continue, and why more refugees are to be let in, despite the needs of NZ citizens not yet being met.
Its now clear why weak-kneed legislation on stopping just a few overseas buyers acquiring houses was the best they could do and why high country stations are being gobbled up by overseas rich-listers and massive chunks of our best farmland sold to Chinese buyers.
Despite the country voting for change, they're following the same agenda as the previous National government.
Social Credit would re-negotiate the TPPA and if necessary withdraw from it completely. The projected benefits from it of $4.6 billion in ten years are less than the $5 billion the government pays every year in interest on its borrowing.
Social Credit would deliver that benefit immediately by funding government from the Reserve Bank like Japan is doing right now, and spend that $5 billion annually on hospitals, roads, rail, and education.
We would dramatically cut the level of immigration, at least until the country's housing and infrastructure had caught up with the needs of New Zealanders.
Rich-listers and Chinese buyers would have to look to some other country for land purchases because such sales would be off the table if we were playing a part in government.
Social Credit would not compromise on New Zealand's sovereignty.

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Taxation Group Report A Major Disappointment
Media Release 20th September
From: Chris Leitch, Leader, Social Credit Party
The report of Michael Cullen’s Taxation Working Group is a major disappointment.
It is bereft of innovative ideas, signals increasing bureaucracy, and is a regurgitation of outdated tax concepts.
Rather than focussing its attention on speculators, money market manipulators, and those who make money from non-productive sources, it has recommended that small businesses, farmers, and ordinary Kiwi’s trying to get ahead should be hit with yet more tax.  
Cullen’s recommendations are exactly what we would have expected from a National Party working group that was intent on protecting the privileged position of its biggest campaign donors.
There is no indication that our submission to the working group that GST should be scrapped and replaced with a Financial Transactions Tax was even considered.
Replacing GST with a transactions tax at less than a quarter of one percent (25 cents in every hundred dollars) on all withdrawals from bank accounts would give workers across the board a substantial increase in purchasing power.
It would generate roughly the same in tax revenue as GST, but with a substantial amount coming from the speculative sector of the economy.
That raft of financial transactions such as credit default swaps, debt securities, convertible and exchangeable bonds, currency trading, derivatives etc, currently avoid the GST net.
It would significantly benefit smaller businesses as people would have more money in their pockets.
Additionally businesses would be relieved of the burden of accounting for GST, filing returns, and audits
The recent introduction of GST to on-line purchases is complicated and messy and will produce minimal tax revenue, whereas transactions tax is simple and would immediately put Kiwi retailers on an even footing with all overseas sellers.
It will be very simple for the banking system to implement FTT, and very difficult for anyone to avoid payment.
Banks would deduct the tax automatically in the same way they already withdraw their own account fees and Resident Withholding Tax, and remit it straight to the IRD.
The removal of GST would also contribute to a reduction in child poverty by putting more money in the hands of lower paid New Zealanders who currently pay tax far out of proportion to their incomes.

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The Awareness Party Joins With Social Credit
Joint Media Release 9th August
From: Chris Leitch, Leader, Social Credit Party
From: Lisa Er, Leader, The Awareness Party
Awareness Party leader Lisa Er and the party’s key personnel have joined Social Credit, and recommended to their members that they do likewise.
In an announcement today, Lisa Er told party members ‘Social Credit is very similar to us, so we are going to personally join with them.”
“You are welcome to do the same and we hope you do.”
“Social Credit has coherent environmental views and doesn’t support the dropping of 1080 or enforcing fluoridation as other parties do.”
“Their main platform is monetary reform, very similar to ours. We must take money creation out of the hands of private banks.”
“All the good work this government is attempting to do would be much more fundable with Social Credit’s financial policy.”
“You may like to listen to this interview on Green Planet FM with Chris Leitch, the leader of Social Credit – the established party that is growing because its time is here.”
“The interview is called ‘is Social Credit heading to be New Zealand’s third political party’.”
“Social Credit was formed in 1953 and has proved it has stickability and commitment to principle and that’s a rare quality in New Zealand politics.”
Social Credit leader Chris Leitch said he was looking forward to working with Lisa and others from the Awareness Party to build a stronger force to counter the neo-liberal economic agenda that Labour and National were wedded to, which had wrought so much havoc to the fabric of New Zealand society.
The results speak for themselves - hundreds sleeping on the streets, in cars, in sheds and garages, hundreds more living in taxpayer funded motel units because they have no homes, full time workers unable to afford their rent.
Our health and education system is in crisis, inequality at its highest level ever, roads, sewage systems, water supply and other infrastructure in disrepair, and our "clean green" country under threat.
Chris Leitch said monetary reform was gaining significant support internationally from economists, professors and commentators, many of whom acknowledged its time is coming.

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Government Pays Out Counterfeiters
Media Release 5th August
The government has put paying out counterfeiters ahead of children’s education and health care on its list of priorities.
With a nurses strike already having disrupted hospitals and a teachers strike looming those priorities urgently need to change.
According to Mervyn King, former governor of the Bank of England, “When banks extend loans to customers, they create money by crediting their customer’s accounts”.
This is backed up by former governor of the Bank of Canada, Graham Towers - “Each and every time a bank makes a loan, new bank credit is created – brand new money”.
And by local commentator Bernard Hickey – “at the moment, it is private banks that print money. They invent money out of nothing whenever they lend”.
So if banks are creating new money out of thin air, just like counterfeiters do, then why is the government paying four thousand five hundred million dollars every year in interest on counterfeit loans, then claiming there’s no money for teachers and nurses?
An International Monetary Fund report recommends the government should source those loans from the Reserve Bank, which it owns, at no interest.
If the Prime Minister really wants “to foster a kinder, more caring  society” it’s time to put her money (or rather taxpayer’s money) where her mouth is.
That means putting a decent education for our children and world class health care for the elderly, the sick and the injured, ahead of massive profits for overseas owned counterfeiting banks.
Teachers, doctors, police, nurses, IRD staff and other public servants need  better pay, more staff and support, and better facilities if they’re  going to be able to play their part in creating that “caring society”.
The National Party created the uncaring society we have today.
The Labour, NZ First, Greens coalition has the chance to prove their economic policy is not the same as National’s and to use that $4.5  billion in wasted interest to turn that uncaring society around.
Chris Leitch, Leader


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Easy Fix for Avalanche of Wage Claims
Media Release 22nd July
The government could head off the avalanche of wage claims that is coming  at them like a runaway freight train by scrapping GST and replacing it with a financial transactions tax.
The wage claims, from nurses, teachers, police, IRD and MBIE staff, and  others, have the potential to wreck the economy by kick starting inflation and pushing up interest rates.
Private sector employers will likewise be under pressure to raise wages, increasing their costs substantially.
The cumulative effect will be to drive up interest rates, causing a major correction in house prices and hundreds of mortgage defaults.
Replacing GST with a financial transactions tax at less than a quarter of one percent (25 cents in every hundred dollars) on all withdrawals from bank accounts would give workers across the board a substantial increase in purchasing power greater than they would get from wage rises.
It would generate roughly the same in tax revenue as GST, but with a substantial amount coming from the speculative sector of the economy.
That raft of financial transactions such as credit default swaps, debt securities, convertible and exchangeable bonds, currency trading, derivatives etc, currently avoid the GST net.
The recent introduction of GST to on-line purchases is complicated and messy and will produce minimal tax revenue, whereas transactions tax is simple and would immediately put Kiwi retailers on an even footing with all overseas sellers.
Additionally businesses would be relieved of the burden of accounting for GST, filing returns, and audits.
It will be very simple for the banking system to implement FTT, and very difficult for anyone to avoid payment.
Banks would deduct the tax automatically in the same way they already withdraw their own account fees and Resident Withholding Tax, and remit it straight to the IRD.
The removal of GST would contribute to a reduction in child poverty by putting more money in the hands of lower paid New Zealanders who currently pay tax far out of proportion to their incomes.
It would be fitting that Labour, the party that first introduced GST and unleashed the neo-liberal economic experiment on the country were the ones that finally scrapped it
Chris Leitch, Leader
Note: More than forty other countries already have some form of transactions tax.

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Government Would Find Money If War Was Declared
Media Release 11th July
If America declared war on Russia, North Korea, or Iran and called on New Zealand to assist, Acting Prime Minister Winston Peters’ government would immediately find the money necessary to provide the resources our armed forces required.
Mr Peters’ claim that there is no money to increase the offer to nurses is patently untrue.
If we were at war, there would be no limit to the money made available to kill people.
And he can find $12 million dollars every single day to pay interest to the private banks the government has borrowed from.
How is it he can't find the funds to ensure doctors and nurses save lives!
Obviously we have the resources, so why is an accounting system stopping them being used?
He could solve the nurses strike overnight by borrowing from the Reserve Bank, just like the Japanese government is doing.
The Reserve Bank can create the credit for the loans in the same way the Australian owned private banks do.
As economic commentator Bernard Hickey says “that's the dirty little secret of international finance”.
Putting bombs and bankers ahead of doctors and nurses shows that the economic policies of Labour and NZ First are no better from National’s.
Chris Leitch, Leader
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Yet Another Party Dashes Kiwi’s Hopes
Media Release 9th July
The demise of the Opportunities Party is another example of a rich  entrepreneur having “a go” at politics without any real commitment to a philosophy or core policy.
Gareth Morgan joins a long list of similar people who thought money was going to buy them an easy road into parliament and who gave up when the going  got tough.
Bob Jones and Colin Craig were others.
They were, as his party name suggested, “opportunists”, who promised much and didn’t deliver.
There was no solid foundation that people could commit to, that would make them contribute time and money at great personal cost over many years.
While Social Credit hasn’t had rich donors and corporate backing that would have allowed it to buy media time and tour the country like Mr Morgan, it has survived the test of time.
It has done so because of its commitment to reforming the money system to deliver a better life for people – particularly middle and low income earners – rather than bankers, money manipulators, and corporates.
First formed in 1953 it has proved it has stickability and commitment to principle and that’s a rare quality in New Zealand politics.
In doing so it has proved Bob Jones wrong.
His taunts about “Skodas and crimplene suits” have come back to haunt him.
Skodas are now a luxury vehicle, and monetary reform is gaining support internationally from economists, professors and commentators.
Its time is coming.
Chris Leitch, Leader
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There Is More Money For Nurses
Media Release 24th June
Finance Minister Grant Robertson’s claim that any new pay offer to nurses “would have to be made using funds already allocated, as there's no more” is nonsense, according to new Social Credit Party Leader, Chris Leitch.
Mr Robertson’s understanding of how the money system works is patently paper thin, and he’s relying on what advisers in Treasury, who have been sourced from the private banking industry, are telling him.
Just like his predecessor Bill English, he puts paying $4,500,000,000 dollars every year unnecessarily to the private banks the government has borrowed from, ahead of decent pay for doctors and nurses and decent health care for Kiwis.
He could solve the nurses strike overnight if he understood anything about Labour Party history, and took a leaf out of Michael Joseph Savage’s book.
Labour’s first Prime Minister used the Reserve Bank to create the credit necessary to rebuild the nation.
5,000 houses were built by 1939, and 30,000 by 1949, financed by Reserve Bank credit.
The European Central Bank is creating credit at the rate of $35 billion Euros per month, through its quantitative easing programme, without any sign of inflation, so there’s no reason the Reserve Bank here couldn’t fund our government in a similar way.
That would give him $4.5 billion dollars every year to spend on New Zealanders instead.
Putting bankers ahead of doctors and nurses shows that Labour’s economic policies are no different from National’s.
Chris Leitch, Leader
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Petrol Taxes A Needless Roundabout
Media Release 1st July
The combination of petrol tax increases and a higher families package is a needless roundabout that will be self cancelling for some households and unnecessarily expensive for many others.
The petrol taxes will have a double whammy effect by also raising the price of food and most other goods as freight companies and shops seek to recover their additional costs.
This will hit low income supporters of the Greens and Labour hardest despite the boost in the families package, and will stoke inflationary pressures.
CEO’s, those in management, property speculation, money market manipulation, and earners of higher incomes, will barely notice a ripple.
Labour should have looked to the lessons of the real Labour Party of 1935, who didn’t impose more taxes, but instead used the country’s Reserve Bank, at virtually no cost, to provide funding for housing and infrastructure projects. (see 1949 Ministry of Works report “State Housing In NZ”)
It could also have taken the $4.5 billion dollars in interest annually - $12 million per day, seven days per week - it pays to banks and financial institutions that create the money it borrows out of thin air, and channelled that into improving the country’s transport networks.
Introducing his Reserve Bank Amendment bill to Parliament in 1936, Labour Finance Minister, Walter Nash said “it is proposed to save a good deal of money in connection with the underwriting of Government loans. It is our work to see that the necessary stimulus of credit is given to the labour and the materials to enable the asset to be produced, and the asset, when produced, is the security given against the loan made by the Reserve Bank to the Government.
That approach was analysed by an International Monetary Fund report in 2012.
The Chicago Plan Revisited said this – “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…..”
Labour should have looked to its history instead of taxing its most loyal supporters.
Chris Leitch, Leader

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