.png)
Jet Fuel Crisis Predicted 12 Months Ago
08 December 2022
by Chris Leitch, Leader
The current crisis likely to lead to severe jet fuel rationing in the lead up to Christmas completely vindicates Social Credit's campaign to get the government to keep the Marsden Point Oil refinery operational.
Rationing of up to twenty five percent is likely which will cause severe disruption for air travellers, tourists, and the country's exporters.
Reserve Bank picks taxpayer’s pockets to boost commercial bank profits
05 October 2022
by Chris Leitch, Leader
The Reserve Bank is digging deeper into taxpayers pockets to increase the profits of investors and commercial bank shareholders with today's lifting of the Official Cash Rate.
That OCR rise will see the bank (read taxpayers) paying the commercial banks 1.5 billion per year in interest payments on their settlement/reserve accounts. Those accounts are where the banks hold money people have deposited with them while they lend out created money to borrowers.
Taxpayers will also pay more interest on the massive amount of borrowing the government has undertaken over the last couple of years - again transferring wealth into the hands of the mostly American shareholders of the Australian based banks.
Govt protection for elite soils fifty years too late
20 September 2022
by Chris Leitch, Leader
At last, fifty years too late, a government has recommended protection of elite vegetable growing land from urban sprawl.
In 1973, Social Credit, way ahead of its time with policy proposals as usual, published You and Your Environment, a twenty eight page green paper which, amongst a raft of environmental policy proposals, recommended exactly that.
"A system of environmental zoning for the nation is strongly recommended..... so that each part is put to it's best use, whatever it be, for fruit growing, cropping, grazing or silviculture".
"Land should be rated according to its zoned use value and not by the present artificial standards".
"The concept of satellite suburbs, built on poorer class land, linked to major centres by rapid transit systems should be fostered".
Read full release...
Govt should pay for Marlborough road rebuilds
15 September 2022
by Chris Leitch, Leader
Social Credit is calling on the government to come up with the money to fix the Marlborough roads seriously damaged by the recent devastating floods.
Grant Robertson's claim today that his government’s good financial management is responsible for positive GDP growth in the last quarter means he has more tax revenue to spend. Coupled with the rise in prices which automatically delivers him a significant increase in GST, that means he can well afford to stump up with several million to ensure the Marlborough District roads get rebuilt.
Read full release...
Minister should release fuel storage capacity report immediately
06 September 2022
by Chris Leitch, Leader
The admission by Energy Minister, Megan Woods, that within days of the country's only oil refinery being about to shut down, she had no idea of how many days refined fuel storage the country had or should have and so told MBIE to hurry up on a report on mandatory onshore holdings, is almost beyond belief.Both she and the cabinet apparently relied on oil company assurances that they could maintain consistent supplies of refined fuel.
Surely the Minister understands that international corporations have only one focus - increasing profits to pay out larger dividends to shareholders, not the best interests of the country they operate in.
Read full release...
Govt needs to step up for Plunket and St Johns Ambulance
30 August 2022
by Chris Leitch, Leader
Government funding for essential services like Plunket, St Johns Ambulance, and the Salvation Army needs to increase by at least 15 percent. Those services were already underfunded due to massive immigration over the last ten years prior to inflation taking off and they are now in a desperate situation.
They are providing services the government would have to run and pay for itself fully if they were to close down.
The government is paying around $5 billion every year in interest to commercial banks on its borrowing when it could access much of its funding needs from its own bank, the Reserve Bank - at zero interest - as set out in the aide memoir written by the Treasury and Reserve Bank to Grant Robertson in May 2020.
Read full release...
Government funds for disaster relief a disgrace
25 August 2022
by Chris Leitch, Leader
The government needs to get serious with the financial support it provides for those areas of the country hit hard by the storms of the last week. An initial non-repayable fund of at least $20 million needs to be provided for each of the hardest hit areas – Northland, and Nelson/Tasman. The government could easily find the money required by drawing on the capacity of its own bank - the Reserve Bank - which proved it could supply funding when necessary, by creating more than $60 billion in the last two years for the covid recovery.
Read full release...
Full Government Ownership of Kiwibank welcomed
22 August 2022
by Chris Leitch, Leader
The move by Finance Minister Grant Robertson to take full government control of Kiwibank is fantastic news – for the bank’s customers and the New Zealand economy. The bank faced the very real prospect of having some of its shares sold off to private investors had the NZ Superfund been allowed to increase its stake, likely an overseas owned bank. Sadly Grant Robertson has chosen to borrow the funds necessary to take full ownership of the bank instead of using the bank the government already owns - the Reserve Bank - which could have funded the purchase at no cost to taxpayers.
That option was recommended to him in an aide memoir written by the Treasury and the Reserve Bank in May 2020.
Read full release...
Huiarua & Matanui farms sale border on treason
16 July 2022
by Chris Leitch, Leader
The government’s failure to stop the sale of Huiarua and Matanui stations on New Zealand’s East Coast to foreign buyers borders on treason according to Social Credit Party leader, Chris Leitch.
It appears the Labour government favours the interests of overseas carbon speculators over rural Kiwi communities as it has done nothing to halt these farm conversions despite promising to do so nearly 18 months ago.
It can move at lightning speed to put in place legislation that throws thousands of essential workers out of jobs because of mandates yet move at a snail’s pace to protect productive farmland from being turned into profit for foreigners selling carbon credits so that big polluters don’t need to change their practices.
There’s still time for the government prove whether it is governing in the interests of Kiwis or overseas carbon speculators and step in to stop the sale.
OCR hike will add millions to bank profits
13 July 2022
by Chris Leitch, Leader
Reserve Bank Governor Adrian Orr should start focusing on the needs of New Zealanders instead of how he can deliver more profits into the hands of the wealthy shareholders of the country's commercial banks.
At the new OCR rate of 2.5 percent that means taxpayers will be subsidising the banks to the tune of $1.15 billion per year from the interest payments on their reserve accounts alone.
That’s money that should have been spent on nurses and doctors, getting people out of motels and into houses, putting food on the tables of starving kids, and making sure the police have the resources to deal with gang violence.
Adrian Orr needs to explain why his taxpayer – owned Reserve Bank is subsidising the country’s commercial banks and driving up profits for their mainly overseas shareholders by taking money out of the pockets of Kiwis.
Government inaction on refinery closure sparks shortages
26 June 2022
by Chris Leitch, Leader
Food shortages are likely as a result of the government’s failure to take action to stop the Marsden Point oil refinery from closure. The refinery was a major supplier of carbon dioxide to NZ industry but its closure in March has put severe pressure on a wide range of businesses. CO2 is used widely in the food industry – in packaging and to preserve the shelf life of cheese, preserved meats, some chicken products, and in ready-to-eat meals, sparkling wine, fizzy drinks, and beer.
Refinery petition handling labelled corruption of democratic process
12 June 2022
by Chris Leitch, Leader
The 18,300 signature petition calling for the Marsden Point oil refinery to remain operational has been buried by Parliament’s Petitions Committee. The committee has dragged its heels on addressing the petition in what could be construed as ongoing corruption of the democratic process.
No public submissions have been called for.
OCR hike will add to inflation and hurt less well off
14 April 2022
by Chris Leitch, Leader
The orthodox attempt by the Reserve Bank to control inflation by lifting the Official Cash Rate by 50 basis points will hurt beneficiaries, superannuitants, and the low paid with a double whammy effect as businesses recover their additional interest charges by pushing up their prices.
Rising mortgage payments and rising rents will exert real pressure on those already struggling to make ends meet and the increased costs due to supply chain issues will add even more.
What the bank has done is like adding more fuel to a fire that is already out of control.
Disabling Refinery would be pure economic vandalism
31 March 2022
by Chris Leitch, Leader
Reports of things like pumping concrete into the pipes, cutting holes in pipes and other essential infrastructure, removing or disabling key electronic components, and other similar actions have been sufficient to ring alarm bells and cause me to seek assurances that no such actions are contemplated or taking place”.
In a letter sent on Tuesday to Refining NZ Chief Executive Officer Naomi James, Mr Leitch wrote “I, and I would think the 18,300 signatories to the petition currently being considered by Parliament’s Petitions Committee, along with most New Zealanders, would consider any action to disable the refinery’s capability in the current circumstances an action of pure economic vandalism”.
Refinery will be dismantled before petition reported
15 March 2022
by Chris Leitch, Leader
The Marsden Point oil refinery will likely be dismantled before Parliament’s Petitions Committee tables its report on an 18,300 signature petition calling for the refinery to remain operational. In a letter sent yesterday to committee chairperson, National’s Jacqui Dean, Social Credit leader Chris Leitch says “Last week the refinery received its final shipment of crude oil from overseas. When that has been processed the closure of the refinery will begin. That will be in just 18 days time”.
Fuel tax cuts way too tentative
14 March 2022
by Chris Leitch, Leader
The reduction in fuel taxes announced by the government today are welcome but are an incredibly tentative step given the enormous increase in fuel prices in the last few weeks due to the Russia - Ukraine war and general inflation.
The government could easily have doubled the cuts it has made if it had wanted to make a meaningful dent in the extra costs being faced by fuel users rather than just looking like it had.
More importantly Road User Charges for transport operators should have been cut by substantially more because these feed into the price of every item on shop shelves.
Invited guests should boycott refinery celebration
08 March 2022
by Chris Leitch, Leader
A party for invited guests being held at the Marsden Point Oil Refinery on Friday to celebrate its closure has been slammed as hypocritical, insensitive, and insulting. The plant has not even been closed yet, but a select group of guests has been invited to attend a function to 'celebrate its proud legacy'.
That function is an insult to the 600 workers and their families who will be without an income due to the closure.
Bank shareholders will be popping the champagne corks
25 February 2022
by Chris Leitch, Leader
Bank shareholders will be popping the champagne corks and toasting the Reserve Bank for its decision to raise the Official Cash Rate. Banks currently have $40 billion in reserves sitting in their accounts at the Reserve Bank on which the Reserve Bank pays them interest at the same rate as the OCR. That payment of interest by the Reserve Bank gives them a cool $40 million - $10 million more as a result of OCR increase this week.
Congratulations David Seymour – better late than never
20 February 2022
by Chris Leitch, Leader
Social Credit has congratulated ACT Leader David Seymour on his call this morning for an end to vaccine mandates.
His assertion that new evidence that the vaccine is not making a difference in the spread of the virus is spot on.
That evidence has been plain to see for any who cared to look for it since a study reported in the Lancet at the end of October and it has been piling up since.
16 February 2022
by Chris Leitch, Leader
We support the National Party in its lodgement of a motion of no confidence in Trevor Mallard as he has brought the office of Speaker of the House of Representatives into serious disrepute. His actions are like those of a ten year old – putting whoopee cushions on someone’s chair or tying their shoelaces together.
Petition – Keep Kiwibank in Government Ownership
16 February 2022
by Chris Leitch, Leader
Social Credit has started a petition to ensure that Kiwibank remains in 100 percent New Zealand government ownership.
A review of the bank's ownership has been instituted by Treasury using outside consultants Goldman Sachs. We call on Mr Robertson to immediately commit to keeping Kiwibank 100 percent owned by the government on behalf of all Kiwis.
5000 Hectare Huiarua Station Sale Invites Patagonia Fires to East Coast
14 January 2022
by Chris Leitch, Leader
Social Credit is calling on the government to step in and stop the sale of Huiarua Station on New Zealand’s East Coast.
If the sale to foreign buyers gets overseas investment office approval, the 5000 hectare farm will be turned into pine trees, inviting the kind of future devastation that raged through Patagonia less than 12 months ago when fire burnt through more than 22,000 hectares in just a few days.
Call for Kiwibank to drop lending rates
7 January 2022
by Chris Leitch, Leader
Social Credit is calling on Kiwibank to drop its lending rates, particularly for first home buyers and small and medium businesses.
Under Kiwibank’s current operating mode, its shareholders, the New Zealand Superfund, the Accident Compensation Corporation, and NZ Post, are effectively taxing Kiwibank’s customers to pay for their own superannuation, accident compensation, and government services through dividends from NZ Post.