Social Credit leader opposes coalition

Press, 22 November 1980, Page 6

Social Credit leader opposes coalition

PA Wellington i No coalition was likely} between Social Credit and; the Labour Party after the' 1981 General Election, said' the Leader of the Social Credit Political League (MrBeetham} yesterday. i He was commenting on astatement by the president of the National Party (Mr G. A. Chapman) who said the: possibility of a Labour-! Social Credit coalition after; 1981 could not be ignored; after the result of the East' Coast Bays by-election. i Mr Chapman also warned farmers that they had most I to lose from the imle-p mentation of Social Credit! policies. j;

i However. Mr Beetham! isaid that an accommodation, (between National and': (Labour, both of which were ■increasingly under threat! from Social Credit, was* more likely. ; Mr Beetham said Mrt ‘Chapman’s assertion that! ifarmers would suffer could; not be further from the' truth. ' "Social Credit will ensure! 'that the profitability of our! | traditional industries is re-j istored and enhanced. It isf J the present policy of the! ; Government that is movingj jus in the opposite direction,”! ,he said. I Mr Chapman also warned jthat Social Credit policies!;

jwould inevitably mean con-i-trol over ail lending, in-' 'creased controls over all I sectors of the economy, (rampant inflation and, ultimately, the end of private I ownership of assets. • However. Mr Beetham isaid that under National private enterprise had in many 'cases been driven to the ; wall through rhe crippling : effect of high inflation. “Social Credit policy is -the reverse and aims at I eliminating the devastating i effects interest rates and! 'other costs are having on! 'the individatil control of New Zealand’s producing; iassets,” said Mr Beetham.