 In his view, the government should use the tax system to encourage productive investment and discourage speculative investment.Until the end of 1983, Douglas saw exchange rate, tax and protection policies as means of actively shaping the business environment.In August 1982 he supported a contributory superannuation scheme as a means of funding industrial development and in February 1983 he wrote a paper called "Picking Winners for Investment" which proposed the establishment of local consultative groups to guide regional development.