REDUCTION OF TAXES

Press, Volume XCIX, Issue 29363, 16 November 1960, Page 7

REDUCTION OF TAXES

Once again Social Creditors come before the people with 80 candidates, which is a prodigious feat made possible only by humanitarian and altruistic incentives; a sound knowledge of the cause of most of our economic ills, and a desire to rectify them for the benefit of all. If there were no salaries for members of Parliament there would still be 80 candidates standing for Social Credit.

It is obvious that a system which gives us war and prosperity or peace and comparative poverty but never peace and prosperity without debt, and which plunges us deeper into debt the more we produce, is wrong. When politicians tell us that there are only two sources of money—taxation and borrowing—completely ignoring the fact that nearly all money is a costless inkpot creation by the banks and that money should bear some relationship to production and not to what interest the banks can get, then such abysmal ignorance and ineptitude should have no place in Parliament. To reduce taxation under the debt system is impossible and not to continue to increase it is also impossible. The question is, therefore, how much more can the people stand before turning to Social Credit for relief? Must we have yet another war to again prove that the system is wrong? The system must be changed. The world is waiting for it and this little country is ideal to first make the change. We led the world with women’s franchise and with age pensions and we could lead again with this, the greatest reform of all.

Our excellent policy is conditional on taking this step, the control of the people’s money, by the people, for the people .and not by- the Labour Party, whose pitiful attempt last month reminded me of a bull in a china shop. For a Government to control the nation’s credit would be infinitely worse than the status quo, for the banks are impartial and are interested only in profits- I do think, however, that the “Treasury boys” would find a way to stop them. Once Social Credit, took this important step, for the people, the way would pe wide open for an era of unprecedented prosperity, for reduced taxation and prices, increased personal freedom and, above all, real peace, for the world would very soon follow us. Our policy of increased pensions, subsidised food and clothing prices, reduced taxation, death duties, etc., our encouragement to cultural and recreational activities would be only a start. Lake Manapouri and all other scenic gems would never be sacrificed to overseas financial interests but would be preserved for posterity. The meek acquiescence to this power scheme by both parties reveals their unfitness to govern.

There are many developmental schemes which are being held up for want of finance and there is no reason why this should be so or that we should need overseas finance at all. Under Social Credit, finance would constitute the least obstacle to progress and development. The only limiting factors would be the availability of men and materials, not a few figures in books. The people have it in their power to put a stop to this infamous and unchristian debt system and if the electors of Riccarton are prepared to support me, I will be proud to represent them, to help in bringing about this reform and to do my best tor their betterment at all times.