Sunday, 5 August 2007

National Intends Going Back To A Debt Future Under Key And English

The 2007 National Party conference has given New Zealand voters notice of their intention to take the country back into a period of history we are still not fully recovered from.

Given the background of John Key as one of the drivers of the global speculative debt-go-round and Bill English as an arch-conservative ex-Treasury gnome, the return to a 1970s 'borrow and hope' era of economic management is inevitable under a National Government.

At a time when the debt foundation of economic activity around the world is being called into question because of currency/interest rate issues we see John and Bill seeking a mandate to actually expand the debt base which will lead directly to increases in costs and taxes. It would also see them flogging off more of the taxpayers few remaining assets.

An alternative mechanism is needed to provide an interest free funding facility for building/rehabilitating our nations essential infrastructure before our health system, our drinking water and indeed our road bridges disintegrate. Something like the mechanism proposed by the NZ Social Credit Party over 20 years ago.

ENDS

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