News
News and campaign updates from the team at
Positive Money New Zealand.
Reserve Bank should cut out the middleman in Covid-19 stimulus package
While the Covid-19 stimulus package will provide a welcome boost to the economy, it comes at the cost of even more debt. Our Reserve Bank is expected to go to the bond market to buy Government bonds from banks and other institutions to finance the package when...
Report on Positive Money’s Parliamentary Select Committee presentation
On 4 March 2020, Positive Money national spokesperson Don Richards and Auckland spokesperson Cliff Hall appeared before the Finance & Expenditure Select Committee to speak in support of our petition.
Handover of our petition to Parliament
A quiet revolution in US banking has implications for New Zealand
As the dominance of the four Australian banks comes under increasing scrutiny, and they continue to close branches and exit from our communities, the Public Banking movement might hold the answer. There has been a quiet revolution happening in banking in the United...
No need to borrow for infrastructure
The Government’s recent announcement that it will spend an extra $12 billion on infrastructure for new roading, rail, schools and healthcare projects, is welcome news. But there is a better way to fund it than to take on billions of dollars of debt.
California signs public banking act into law
A financial revolution has begun in California. The Governor, Gavin Newsom, has just signed #AB857 Public Banks into law, making it possible for California cities and counties to take control of their banking system through the creation of public banks. With public...
Select Committee requests a written submission on our petition
The Finance and Expenditure Select Committee has asked for a written submission to provide detail on the matters raised by our petition. This came as a pleasant surprise as we had been told that the Committee was very busy and may not be able to consider the petition...
Petition a game changer for the New Zealand economy
A petition that promises a significant and dramatic improvement for the New Zealand economy was handed to Dr Deborah Russell, the MP for New Lynn, today. “The petition, signed by over 5,000 New Zealanders, addresses our crippling level of debt as well as funding infrastructure projects that will energise our economy,” says Don Richards, National Spokesperson for Positive Money New Zealand.
Reserve Bank/IMF meeting an ideal time to rethink our debt-based money system
A meeting sponsored by The Reserve Bank and the International Monetary Fund in Wellington this week is an ideal time to shine a light on a system that has delivered the highest house price inflation in history and left New Zealand with a half-trillion-dollar mountain...
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