SOCIAL CREDIT PARTY

Waimarino Bulletin, Volume 2, Issue 5, 3 July 1984, Page 2

SOCIAL CREDIT PARTY

Policy for the future direction of this country's economy, not platitudes, is being demanded by the public, in this election, stated Derek Mason, Social Credit candidate for King country. Service to the community, in matters that affect people in rural towns and businesses, is the area in which he has had most experience. Over a number of elections, he has built up the Social Credit vote to 35% of public support, trailing Mr Bolger's 1981 vote by 2,158 leaving only a small residual Labour vote in the electorate. Social Credit Policy for the medium and small business community, gives a new dimension of the employing of 150,000 young people in that sector, and the points are these, stated Mr Mason. • Working capital will be made available to small business at five percent by trading banks. • The tax system for small business will be completely revised. The first $10,000 proft will be tax-free, and a graduated scale to a maximum of 45 cents in the dollar will be applied thereafter. • The current 'double tax' on company profits will be abolised. Social Credit will move progressively to tax profits only as income in the hands of shareholders. • A five percent tax deductible stock allowance will be allowed to counter the effects of inflation on business profits. As agricultural spokesman for the Social Credit Party, Mr Mason sees an urgent need to ensure adequate income is received by the farmer, for production at the farm gate. A premium paid for his role, in earning foreign exchange is a first consideration in ensuring, that the living standards of a large part of the community are not destroyed. Payment, he said, will be made from industry accounts held at the Reserve Bank

which will be paid out directly to the farmer, as a percentage of the actual realised market returns, received for his production. The funding for the industry accounts will come from a levy, placed on the use of foreign exchange for non-essential imports, he said. In conclusion, Mr Mason stated that he believed the way people vote, in this election will be very important in influencing the direction, that Governrnent policy will go over the next three years. A block of Social Credit members in Parliament is going to be very important, to ensure good Government over the next three years.