The LSE's Nick Robins presented the Green New Deal to Merton and Wandsworth Green Parties
13 July 2020
Our local member Professor Nick Robins from the London School of Economics spoke to us on 8 July about finance and the green recovery. The Government has adopted some of the rhetoric of the Green New Deal first put forward by Caroline Lucas many years ago, but the actions it has taken so far are tiny in relation to what is needed. There is no shortage of financial resources. For example, the Government provides the pensions industry with £50bn a year in tax relief, but there are no conditions attached - its receipt could be linked to investing in green goals. The Bank of England is providing £300bn through its asset purchase scheme, again with no strings attached. One step all of us who pay towards pensions or receive them can take is to sign this petition. It calls on UK pension funds to put people and the planet on a par with profit when investing in our pensions.
A number of local authorities are looking at what they can do despite their dire financial position - one option being examined is to issue community municipal bonds, as planned by West Berkshire - these would raise money from local better-off residents for investment in local green causes.
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