The Green New Deal.

The Green Party is offering a new view of working practice that can be sumerised as
"The New Green Deal."
What follows is a pracie of this stratagey.

  1. A bold new vision for a low-carbon energy system that will include making 'every building a power station'.
  2. Creating and training a 'carbon army' of workers to provide the human resources for a vast environmental reconstruction programme, which would provide thousands of much-needed graduate jobs.
  3. Establishing an Oil Legacy Fund, paid for by a windfall tax on the profits of oil and gas companies as part of a wide-ranging package of financial innovations and incentives to assemble the tens of billions of pounds that need to be spent. The tax would not be passed on to the consumer. The monies raised would help deal with the effects of climate change and smooth the transition to a low-carbon economy.
  4. Ensuring more realistic fossil fuel prices that include the cost to the environment, and that are high enough to tackle climate change by creating economic incentives to drive efficiency and bring alternative fuels to market. This will provide funding for the Green New Deal and safety nets to those vulnerable to higher prices via rapidly rising carbon taxes and revenue from carbon trading.
  5. Re-regulating the domestic financial system. Reduction of the Bank of England's interest rate to help those borrowing to build a new energy and transport infrastructure, with changed in debt-management policy to enable reductions in interest rates across all government borrowing instruments. In parallel, to prevent inflation, much tighter controls on lending and on the generation of credit.
  6. Breaking up the discredited financial institutions that have needed so much public money to prop them up in the latest credit crunch. Large banking and finance groups should be forcibly demerged. Retail baking should be split from both corporate finance (merchant banking) and from securities dealing. The demerged units should then be split into smaller banks. Mega banks make mega mistakes that affect us all. Instead of institutions that are 'too big to fail', we need institutions that are small enough to fail without creating problems for depositors and the wider public.

Derived from the Young Greens Newsletter No. 6

To find out more about the "Green New Deal" you should consult the Manifesto for a Sustainable Society the policy manual of the party which lays out the Green policies on which the Green New Deal is based.


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