TINA takes control of Council
TINA has taken control of the Hamilton City Council, according to Democrats for Social Credit Deputy Leader & Finance Spokesman Chris Leitch.
TINA (there is no alternative) is being advanced as the reason Hamilton Mayor Andrew King has proposed that the city’s rates need to jump 16.5 per cent, saying all options have been investigated.
Mr King is mistaken. A rates rise is not required at all. There is another alternative, and either Mr King does not know anything about it, or he has chosen to ignore it. The Labour government of 1935 used the Reserve Bank to fund much of its infrastructure development, for things like roads and housing.
Loans from the government owned bank would not cost taxpayers a cent, and could be at an administrative cost only, freeing ratepayers from the burden of the $21 million interest bill they are currently paying every year.
It’s an option that was recommended in an International Monetary Fund report of 2012.
It’s similar to the “quantitative easing” that central banks in Europe, England, Japan, China, and the United States have been using for several years, except that the money would go into building infrastructure assets in the community instead of financial speculation in the money markets.
The legislation is already in place in New Zealand to allow it to be done, but the previous government wouldn’t use it.
According to Bill English when he was Minister of Finance, “it wasn’t government policy”.
The new government, with it’s commitment to some Reserve Bank reforms, should be open to the concept, especially since Labour’s greatest prime minister, Michael Joseph Savage used it.
I have written to Mayor King seeking a meeting with him to acquaint him with the proposal.
Contact: Chris Leitch, Democrats for Social Credit Party Mob 021 922 098
Published: November 2017