ELECTION MANIFESTO Social Credit Forms Policy Platform

Press, Volume CIX, Issue 31991, 19 May 1969, Page 24

ELECTION MANIFESTO Social Credit Forms Policy Platform

(New Zealand Press Association)

WELLINGTON, May 18.

The annual conference of the Social Credit Political League today began hammering out its 1969 election manifesto.

More than 200 delegates endorsed a new system of local body rating, detailed the establishment of a national credit authority, and after traversing difficult waters pledged the abolition of the four Maori Parliamentary seats “after consultation with the Maori people.”

The conference opened yesterday with a closed session. Today’s meeting was held under television arc lights in the concert chamber of the Wellington Town Hall. With another open session tomorrow, this year marks the first occasion when the conference has been substantially open to news media. The Social Credit leader, and the party’s sole member of Parliament, Mr V. F. Cracknell, was authoritative in the debates. Rating Issue

Introducing the report on the party’s policy committee, Mr G. A. Greig, Invercargill, committee convener, said new, important sections dealt with local body rating and the use of natural resources. Moral issues—such questions as abortion, homosexuality, and participation in Vietnam—had been deliberately left out, he said. “We want to keep the eyes of the people upon the internal administrative problems of the country,” Mr Greig said. Most of the morning’s three-hour session dealt with delegates’ consideration of financial policy, particularly the question of death duties. The committee had recommended that, “as a move to their eventual abolition,” death duties be abolished on estates up to $60,000. Farms and family businesses passed on to immediate members of the family would he eligible for an additional exemption of $60,000 provided the successors ran them for seven years. 1966 Manifesto Several delegates spoke. vigorously for and against the

proposal, and eventually its was rejected substantially by the conference. Instead, the conference de-; tided to adhere to the state- j ment contained in the party’s’ 1966 election manifesto which says that death duties will be abolished on estates up to $40,000. The farms figure is also $40,000. Mr L. Hunter, Palmerston j North, said abolition of death' duties denied equality of opportunity. “It would be unfair and un-; just to a young man wishing [ to go into business in his own! right,” he said. Mr Cracknell said he did! not think Social Credit) should be working towards, the complete abolition of; death duties. “I think a contribution must be made from deceased estates towards the public purse,” he said. One or two speakers, in favour of abolition, said death duties was “a Socialist tag” and should not be included in Social Credit’s policy. Other financial policy points adopted by the conference were:— Money required for Governmental purposes within New Zealand, over and above that received from revenue, be provided from the national credit account at the Reserve Bank interest-free, and, where circumstances warrant, debt-free. The Government balance its books on June 30 instead of March 31. Internal Government borrowing be eliminated and the internal national debt be progressively redeemed. External debts be repaid as circumstances permit. The conference also endorsed as policy the restoration of subsidies, without increasing taxation, on essential commodities and the gradual extension of them to cover a far wider range of consumer goods. Land Tax It voted to reduce and ultimately abolish all land tax. There was considerable debate on the question of natural resources and land administration. The national resources policy, endorsed by the conference, emphasised the need to preserve national resources. A Social Credit Government would create a new Ministerial position of senior status for natural resources. Land use committees would be established from suitable professional people to advise the Minister on the correct land usage within each region.

The conference agreed that Social Credit be opposed to foreign interests or persons i buying New Zealand land or mineral rights unless it "can be proved to be an advantage to New Zealand.” Lake Manapouri Delegates also endorsed , sections of policy dealing i with mining, fuel and power. I fishing and local government, land affirmed that a Social [ Credit Government would be [opposed to the raising of [ Lake Manapouri above the j present mean high water level. ; The conference adopted a [section of the policy cominit--1 tee’s report which said that a I national credit authority ; would be established by stat- [ ute and would comprise “suitably qualified persons” who would carry out their function free from political interference. The authority would determine the limits of the total volume of credit creation, such limits to be restricted by the value of the nation’s total production of goods and services. It would be charged with the duty of preparing proper statements on the national accounts, including a national balance sheet, showing “the true wealth and financial position of the country.” Tabled Annually These accounts would be [ presented in comformity with modern accounting practices , and would be tabled before 1 Parliament annually. The amount of any deficiency in purchasing power re- • quired to equate it with conI sumer goods and services : would be credited to the na- ■ tional credit account held at > the Reserve Bank. A Social Credit Government would increase the per- . sonal exemption from income . tax and also the exemption . claimable in respect of a wife . or housekeeper, children and dependent relatives. i The party conference today also endorsed a policy of progressively reducing indirect taxation. Urban Property A system of local body rate . assessment based on land . classification, in the case of rural land; and, in the case of urban property, zoning in ; accordance with the approved town plan, was endorsed by the conference. Local bodies would have the option of rating on a zonal or riding basis. The conference described the present system as “outdated, inequitable and costly.” Several delegates, however, i questioned whether the system would make any difference to ratepayers in urban areas.