Positive Money

The fundamental issues with the creation of money has been a topic of debate on several occasions at Shepway Green Party and we’ve been delighted to welcome Andrew Waldie, from Kent Greens, to speak to us on the topic. Andrew was one of those instrumental in introducing a policy on the topic at the Green Party conference in 2013, with this passed by members.

The Green Party decided to instead place the power of making money with a democratically accountable National Monetary Authority at the Bank of England, rather than allowing the private creation by the banks, as at present. By so doing, Green Party policy is now for full reserve banking, alongside other radical policies such as a citizens income, land value tax and, of course, the decarbonisation of the entire economy as we move to a post carbon world.

To understand why today’s system is broken, visit the Positive Money website.

Here’s what Caroline Lucas has to say about positive money:

And click here to read the background paper to the Green Party motion.

On the 20th November 2014, the UK Parliament held a back bench debate on “Money Creation and Society”. This marked the first time in 170 years, since the Bank Charter Act in 1844, that the topic has been fully debated in Parliament.