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The Social Credit Party was established as the Social Credit Political League. It was founded on 10 January 1953, and grew out of the earlier Social Credit Association. The party's first leader was Wilfrid Owen, a businessman. Much of the early activity in the party involved formulating policy and promoting social credit theories to the public.
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Beetham and party president Alan Shaw said the new party would offer an alternative to interventionist and free-market policies by resurrecting original social credit economic ideas. At its launch the party said it intended to contest every electorate at the 1990 election and already had 45 members lined up to contest electorates. [ 1 ]
Social Credit Party of Alberta; Social Credit Party of Saskatchewan; Social Credit Party of British Columbia; Social Credit Party of Ontario; In the United Kingdom: Social Credit Party of Great Britain and Northern Ireland; In New Zealand: Social Credit Party (New Zealand) Social Credit-NZ; In Australia: Social Credit Party (Australia) In ...
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In 1970, a bitter dispute at the party's annual conference saw Cracknell lose the Social Credit Party's leadership to his deputy, the more confrontational John O'Brien. The 1970 conference was described as "the most vivid example of political bloodletting in public" since John A. Lee had been expelled at the 1940 Labour party conference. [ 13 ]
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The 1954 New Zealand general election was a nationwide vote to determine the shape of the New Zealand Parliament's 31st term. It saw the governing National Party remain in office, but with a slightly reduced majority. It also saw the debut of the new Social Credit Party, which won more than eleven percent of the vote but failed to win a seat.