Robertson would rather pay bankers than teachers
15 May 2019
Finance Minister Grant Robertson’s claim that ‘there is simply no more money to go into the [education] sector” is a lie, according to Social Credit Party Leader, Chris Leitch.
I challenge him to explain why he would rather pay $6,000,000,000 dollars every year to bank shareholders and PPP scheme financiers, yet refuse teachers, support staff, and principals the funding needed to provide our children with the best education possible.
He’s putting wealthy bank shareholders ahead of children - the next generation of wealth generators – which is exactly what National’s finance ministers did.
Mr Robertson’s understanding of how the money system works is patently paper thin, and he’s relying on what advisers in Treasury, who have been sourced from the private banking industry, are telling him.
He could stave off the forthcoming teacher’s strike overnight if he understood anything about Labour Party history, and took a leaf out of Michael Joseph Savage’s book.
Labour’s first Prime Minister used the Reserve Bank to create the credit necessary to rebuild the nation.
5,000 houses were built by 1939, and 30,000 by 1949, financed by Reserve Bank credit.
The European Central Bank was creating credit at the rate of $35 billion Euros per month through its quantitative easing programme, without any sign of inflation, so there’s no reason why the Reserve Bank here couldn’t fund our government in a similar way, without charging interest.
That would give him $6 billion dollars every year to spend on New Zealanders instead.
Putting bankers ahead of children shows that Labour’s economic policies are no different from National’s.