In 1986, Beetham lost the leadership of the party to Neil Morrison who had been elected an MP in 1984. The new leader, on the night he was elected, implied in a TV interview that the Social Credit national dividend policy was out of date and would be dropped. This was in response to a question from the interviewer, which he might not have listened to carefully. The next day Mr Beetham said he was considering resigning because the new leadership was rejecting basic Social Credit philosophy. This promoted Morrison to publicly retract his comments, and affirm that of course the national dividend would be retained as an important part of Social Credit policy. In 1988, in response to the abandonment of the party's old name and policy platforms, he formed and led Social Credit-NZ which less of a political party but more of a pressure group organisation dedicated to furthering Social Credit monetary aims and financial principles. He was chairman of the organisation until 1995.