The Te Pāti Māori co-leader asked a question referencing something suppressed by a court. If any MP complains about it, it will be referred to parliament's privileges committee
“The package is understood to be in excess of $1b, will cover other storm-related costs and will be paid for by borrowing and future rates rises”. What nonsense. As New Zealand is a sovereign country it can issue its own currency and a government can pay for it all. Auckland Council cannot because it cannot issue its own currency.
True, but government need to be mindful of the effect of injections of sovereign cash on the larger economy. Since capitalism by it's very nature causes all new money, whether it be from sovereign or commercial bank creation, to accumulate to the most wealthy, It is necessary to also have appropriate taxation policies to prevent the wealthy from bidding up land, shares etc to preposterous levels.
Excellent summary of topical issues, with great links. Thank you.
Thank you Maisie ☺️ - Anna
“The package is understood to be in excess of $1b, will cover other storm-related costs and will be paid for by borrowing and future rates rises”. What nonsense. As New Zealand is a sovereign country it can issue its own currency and a government can pay for it all. Auckland Council cannot because it cannot issue its own currency.
True, but government need to be mindful of the effect of injections of sovereign cash on the larger economy. Since capitalism by it's very nature causes all new money, whether it be from sovereign or commercial bank creation, to accumulate to the most wealthy, It is necessary to also have appropriate taxation policies to prevent the wealthy from bidding up land, shares etc to preposterous levels.