‘Participant society’ aim of Socred

Press, 17 June 1980, Page 14

‘Participant society’ aim of Socred

i PA Invercargill Social Credit envisages the development of a “property owning democracy” according to its leader, Mr B. C. Beetham. He told the league’s [ southern South Island semi- [ nar at the week-end that the development of such a democracy together with industrial democracy and a "participant and shareholder society” was envisaged by the league. “Asset holding would be individualised, and income ! progressively would come to people more by way of dividend (based on ownership rights) than by way of wages,” said Mr Beetham. He said the country’s savings-available pool of investment money and credit < resources should be directed! to “diversified land-based: and added-value production of traditional and uniquely New Zealand products with as little foreign investment and monopoly control as possible.”

Co-operative enterprise should be employed as an alternative to monopoly capitalism wherever possible. Emphasis should be placed on “individual ownership of productive assets.” either by outright ownership or individual shareholding within co-operative structures. In such a case, productive assets should be dispersed over as many individuals as I possible. ■ With socialism in the form! of the Labour Party, orj multi-nationalism, Mr Beet- j, ham sees Social Credit as the, “only alternative” in New I Zealand politics. He described the “cargo-! cult mentality” of the! National Party as a capital; intensive multi-national re- [ source sellout. ! Mr Beetham said the ; National Government was; allowing foreign domination] and a monopoly control approach involving the mass! marshalling of available in-] vestment resources for huge energy-hungry exploitation enterprises. These allowances of energy exploitation by foreign enterprises were being done ati

ithe “expenses of alLother ec- > nomic activities in the hoped- . for belief that this Will prove the country’s economic salvation/’ Mr Beetham said. He considered the Labour s Party was being pulled to the ? . Left, to nationalisation, State centralism, and central bureaucracy, by the socialist elements within the party and the Federation of Labour I “The Labour Party is nbw I being puppetised by the 1F.0.L. and the Socialist Unity [Party,” he said. [ Social Credit’s present sup[port of voters was about 20 ! per cent and Mr Beetham said [only another 5 per cent was needed for a third party [(Social Credit) breakthrough. ! He said the microtechnological revolution with the increased use of silicon chips .would-,.; finally bring Social Credit into .its own. | “Social Credit’s financial mechanism is geared to: receive and cope with thesedevelopments, to that people are benefited, and not' disadvantaged, and so ‘/increasingly released, from drudgery to pursue various avenues of self-fulfilment,” Mr Beetham said.