Social Credit policies

Press, 26 November 1981, Page 16

Social Credit policies

Sir,—Like the inevitable monsoon the triennial editorial tirade by “The Press” against Social Credit is over. A manifesto is a statement of principles with details following, many of which the editorial writer could have obtained from Social Credit candidates. The inflation-proofing of savings is a specific measure to reduce inflation by reducing costs. As applied not long ago trading banks would charge 6 per cent on loans instead of the present 16 per cent. More net pay would enable workers to save and pay cash instead of being slaves to hire purchase. Labour and National have accepted the scourge of inflation. Social Credit attacks it head on, with little sympathy for the sacred privileged cows of some editorial writers. The recent editorials are, in essence, a subtle defence of the financial system by a combination of unjustified, irrelevant assumptions and the exploitation of the public’s ignorance of monetary matters. — Yours, etc., ' NORM DAVEY. Social Credit candidate, Yaldhurst. November 24, 1981.