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John Key will not find the pot of gold at the end of an Irish rainbow
22 July 2005
“National’s finance spokesman has to resort to dreams of Irish gold, to try and out shine Labour” says Democrats for social credit Finance Spokesman John Pemberton. “He will wake to a nightmare of long term poverty”
Looking to Ireland, which opened its borders and allowed investment banking giants such as Merrill Lynch access the 10 percent tax rate for foreign investors, will only lead New Zealand back to the errors of Rogernomics, Pemberton warns.
“The quick sugar rush caused by the flood of overseas investment will quickly be replaced with withdrawal symptoms – the repatriation of profits back to their overseas owners.”
“In Ireland the full costs of healthcare, the rising costs of rent, childcare, utilities, waste charges and education are all faced by the low paid working poor,” Pemberton points out. “Mr Key needs to look beyond the gleam in his eye and see the struggles of those in Ireland who live below the breadline.”
Rather than copy Ireland, Pemberton says we should look to successful New Zealand initiatives.
“Michael Joseph Savage did not try and attract 200 banks to register here. He used our own resources, our own Reserve Bank. By extending low and no interest loans for capital works such as housing and infrastructure he pulled New Zealand out of the Great Depression and saw us lead the world.”
The benefits of that approach saw New Zealand not only retain ownership of our public assets but dramatically increase them.
“Roger Douglas sold us out in the eighties; it appears John Keys intends to do the same,” claims Pemberton.
“The Democrats for social credit are the only party with policies which enable us to stand tall and to regain our independence from the ravages of overseas banks.”
“We can have our country back.”
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