Social Credit’s Election Policy Announced (Press, 2 November 1972)

The Social Credit Political League has unveiled its policy for the upcoming General Election, highlighting a mix of social welfare measures and financial reforms while refraining from promises of comprehensive cradle-to-grave benefits. Their proposals include benefits for pre-school children and encouraging local councils to establish crematoriums. A central focus of the policy is a plan to restore public ownership of credit, proposing the creation of a national credit authority tasked with regulating the amount of credit in circulation in relation to the nation's production. This government body would prepare national account statements and ensure that public income aligns with available goods and services. The League proposes that government funding, above revenue, would be sourced interest-free and potentially debt-free from the national credit account at the Reserve Bank. This would be accompanied by free loans to local bodies for community projects. They intend to eliminate internal government borrowing and progressively repay the national debt, while maintaining normal banking operations with reasonable interest rates. Furthermore, the policy lays out reforms in taxation, suggesting an increase in personal tax exemptions and the abolition of death duties for estates under $40,000. The payroll tax would be eliminated, and the structure for local body rates would shift to land classification systems. The League also plans changes that would assist local authorities in creating composting facilities. In terms of industrial relations, the policy encourages employee ownership in industries, advocates for union restructuring based on industry, and establishes a pay margin between skilled and unskilled workers. The Social Credit Political League also aims to improve race relations, promising an increase in Maori representation in Parliament and recognition of Waitangi Day as a national holiday. Environmental considerations are included, such as creating smokeless zones in urban areas, while housing policies would offer affordable loans for first home purchases and interest-free options for self-contained flats for elderly parents. On the foreign affairs front, the League will recognise both the People's Republic of China and the Taiwan Government, while providing civil aid to Vietnam. Additionally, enhancements to social security are envisioned, including increased pensions, sick benefits for self-employed individuals, and a restructured universal superannuation system. Proposals for the youth include lowering the age of majority to 18, while educational reforms would enhance support for schools and provide additional benefits for teachers. The League proposes electoral reforms to embrace proportional representation, the extension of the Ombudsman’s oversight, and drug law reform, including the decriminalisation of consensual homosexual behaviour. In healthcare, the League intends to boost subsidies for private hospitals and address issues related to addictive drugs through the Health Department. In the realm of agriculture, farmers would be compensated at the internal cost of primary products and encouraged to form cooperatives. Transport suggestions include forming a dedicated corporation for railway management and reviewing the potential for a New Zealand-owned shipping line. Defence policies would eliminate mandatory military training and prioritize modernising naval capabilities. Overall, the Social Credit Political League's policies reflect a significant shift toward a restructured economic and social governance model.

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