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Last night the Kapiti Coast Chamber of Commerce (KCCC) hosted an event for local business. Unfortunately, half the candidates were excluded from the meeting, with the KCCC following tradition.
They only platformed established parties. Excluded were: Michael Feyen from Advance, Amanda Vickers from Social Credit, Martin Frauenstien from New Conservatives and Michael Kay from ATTICA – all standing in the Otaki electorate.
At least two of the excluded Otaki candidates have run businesses locally, unlike candidates from both Labour and National – who are both state employees. This is Michael Kay’s key criticism – both Labour’s and National’s economic policies and local candidates see government as the solution, competing only with whom they select to give handouts to.
Basically, socialism for selected established business and capitalism and austerity for small business, start-ups, citizens and workers.
ATTICA’s business and economic plans are innovative. A key policy includes the ending of all GST, as an egalitarian stimulus to ALL sectors of the economy, including citizens, allowing 15% liquid capital to remain in the economy.
No matter who wins the election, governmental income from income tax and business profit will be lower.
This will inevitably lead to the government trying to extract more and more income from the economy in order to hand out to selected groups and maintain a bureaucratically heavy government. This is known as austerity, and it has failed repeatedly all around the world; most well known in Greece.
Michael Kay is deeply worried about this as an outcome of the election. We sit at a crossroads; we can free the market from consumption tax and watch it recover quickly as ALL citizens/customers benefit from the removal of GST.
Business, both established and new, can finally face a level playing field, (under the current GST new and lower turnover businesses are discouraged from claiming back GST ensuring their running costs are 15% more than their bigger competition. This also will reduce compliance costs and remove the loophole in the employment of contractors vs wage earners.
As another innovation, ATTICA introduces profit share; whereby businesses who create formal profit share with workers receive a lower tax rate. This will strengthen the bond between workers and employers, going some way to restoring that social contract business had before the neoliberal reforms made big business all about quarterly profits.
Another ATTICA innovation that Michael Kay proposes is to bring Kiwisaver funds home and invest in the local economy.
Kiwisaver may only be eligible for the government contribution if the fund is invested in NZ. This unwittingly returns around 440 billion dollars to be invested locally, rather than relying on foreign investment that acts as a crowbar, looting the NZ economy, giving away profits to offshore and manipulating tax regulation to minimise taxes owed.
The trouble with including only the Establishment in any debate is that the community only hears established ideas (often failed ones). Diversity of opinion, fresh thinking and open debate allow the best ideas to be heard and hold the Establishment to account.
Visit www.attica.nz to see ATTICA’s full Business and Economics policies.
Have your say on ATTICA’s economic Community Survey here: https://thisquality.com/community-survey-economics-feedback-for-michael-kay/