Of Bailouts & Fraud: The South Canterbury Finance Company Saga

On December 7th, 2011, the Serious Fraud Office announced it was laying 21 charges against five people in the failed lending company South Canterbury Finance, which came to national attention in August 2010 when the National-led government bailed out the organisation for $1.6 billion (£729 million) under the 2008 Crown Retail Deposit Scheme that was introduced by the Labour-led government shortly before their defeat in the 2008 elections to protect individual depositors in organisations such as banks and financial companies in the event they collapsed. 

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An Analysis of Labour's General Election Disaster

For the Labour Party the 2011 general election defeat was the worst since 1928. The main factor for this was the historic low turnout as many workers stayed at home and were not enthused enough by the right-wing leadership of the Labour party to go out and vote. The turn out was down from (what was considered then a low turnout) 79.46% at the 2008 general election to 73.83%. This was the lowest turnout since 1878!

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The Silent Revolution: The 1981 Springbok Tour

From 9th September to 23rd October, 2011, New Zealand will be the host to the 2011 Rugby World Cup. By all accounts it is shaping up to be a non-event in New Zealand with less than a third of those polled taking an active interest in the event despite rugby being the national sport of New Zealand. This is a far cry from the days when the nation would grind to a halt for international rugby matches involving the All Blacks. This lack of interest in the Rugby World Cup is not only due to the inability of thousands of working class New Zealanders to attend rugby matches but the fundamental change in attitude towards the national game that resulted from the 1981 Springbok Tour.


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Government Deregulation Responsible for MV Rena Disaster

The grounding of the 236m MV Rena on the Astrolabe Reef in the Bay of Plenty exposes the lack of maritime regulation and unpreparedness of the government to respond to such a disaster.  This is New Zealand's worst environmental disaster with oil washing up on once pristine beaches destroying both wildlife  and important ecosystems. 

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Labour Manifesto: Socialist Economic Policy Needed

The recent announcement by the Labour Party with regard to its taxation policy for the general election is to be welcomed.  In a nutshell the policy is an attempt to tax capital, hence the rich.

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