Update your Cookie Settings to use this feature.
Click 'Allow All' or just activate the 'Targeting Cookies'
By continuing you accept Avaaz's Privacy Policy which explains how your data can be used and how it is secured.
Got it
We use cookies to analyse how visitors use this website and to help us provide you the best possible experience. View our Cookie Policy .
Use New Zealand's own bank to fund the Covid19 rescue package

Use New Zealand's own bank to fund the Covid19 rescue package

1 have signed. Let's get to
50 Supporters


Complete your signature

By continuing you agree to receive Avaaz emails. Our Privacy Policy will protect your data and explains how it can be used. You can unsubscribe at any time. If you are under 13 years of age in the USA or under 16 in the rest of the world, please get consent from a parent or guardian before proceeding.
This petition has been created by Amanda V. and may not represent the views of the Avaaz community.
Amanda V.
started this petition to
Grant Robertson
We are calling on the New Zealand government to use the Reserve Bank (which the government owns) to fund the Covid-19 economic rescue package.

The government may borrow up to $52 billion from privately owned financial institutions, including commercial banks.

That will provide big profits to wealthy overseas shareholders. Taxpayers will be footing the bill.

This means there will be less money for the things Kiwis really need: health care, education, housing the homeless, the environment and reducing poverty.
The government could get the money from the Reserve Bank at no cost to taxpayers.

Former investment banker Raf Manji says "What the Reserve Bank needs to do now is to make clear that it can and will purchase government bonds directly from the Treasury at 0%".

As respected economist Ganesh Nana explains "To be technical, it’s literally [the government] borrowing from itself."

There is no need to take money from hard-working Kiwis and put it into the pockets of wealthy investors.

Many economic commentators and economists are now calling for this common-sense approach. They include Dr Geoff Bertram, Shamubeel Eaqub, Jordi Gali, Bryan Gould, Bernard Hickey, Raf Manji, Ganesh Nana and Adair Turner.

To find out more visit www.socialcredit.nz
Posted (Updated )