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Tax Payers' Union Promotes Social Credit Policy

25 August 2020

by Chris Leitch, Leader

The Taxpayers’ Union has started promoting Social Credit policy in the run up to this year's general election.
On Friday it put out an email to all its supporters calling for the adoption of Recall - a process that would enable voters to force elected representatives to stand down and face a by-election.
Recall, along with Binding Citizens Initiated Referenda has been a central plank of Social Credit policy for more than forty years.
A Recall poll could be invoked in the case where MP’s or local body politicians were acting against the promises they made to voters during an election campaign, or where there was a substantial level of disquiet over how they were performing.
As the Taxpayers’ Union stated “Recall elections affirm the basic concept of ‘sovereignty of the people’. In a democracy, it is a fundamental right to elect representatives and that should also include the right to remove them from office and replace them at any time”.
The background proposal paper could have been lifted straight out of Social Credit policy.
Just a week earlier in its email to supporters it declared “[The] Reserve Bank goes full Social Credit”.
It said “Social Credit was once the butt of jokes. What's really worrying is that our public finances are being transformed into a Social Credit model, without so much as it making the TV news”.
Taxpayers’ Union spokesperson, Jordan Williams, is right - the Reserve Bank is doing what Social Credit has, since 1953, claimed it could do - creating money.
RBNZ chief economist Yuong Ha confirmed it, being quoted in the NZ Herald on August 14th - "We create money … which is what central banks do. And have always done"
However that money ($100 billion over the next two years) is not being used as Social Credit has always proposed. Far from it.
Social Credit proposes that money be put straight into the government’s account for it to use so that it did not need to borrow from the private sector and taxpayers were not lumped with large interest and debt repayments.
We expect Jordan Williams to be campaigning for that before the October 17th election date.

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