Sustainability England Economy

The 2008 financial crisis showed clearly that free market globalised capitalism has had catastrophic consequences. Financial institutions which were meant to working for the benefit of all collapsed but, because of their privileged position and their access to those in power, the free market that they promoted was temporarily discarded in favour of massive taxpayer funded bailouts. Subsequently national deficits soared and, we are told, that we must endure many years of austerity because of this. Meanwhile the bankers returned to business as usual.

Sustainability England believes that money should be our servant and not our master. Economic growth should not be persued at the expense of happiness and a fairer economy would bring real lasting prosperity. Workers should be given meaningful democratic control of the companies in which they work and a fair share of generated profit. See video Work and workers cooperatives

OBJECTIVES

Banks should be reformed so that high street and investment banking is separated

Companies should be part owned by employees with democratic rights as per the John Lewis Partnership model.

Income tax allowance to be abolished in favour of a Basic Income to be paid to all citizens. If unemployed this will be in return for undertaking national service (with equal democratic rights to the private sector) in government business initiatives or social services in a workfare scheme.

Tobin Tax to be introduced to discourage financial speculation on currencies.

All Immigration to be on a strict points system to ensure cheap labour doesn't undercut working conditions.

Essential services, utilities, public transport, social housing, to be renationalised with working conditions tied to those in the private sector in return for a no strike agreement.

To aim for national self sufficiency in essential goods and promote via government business initiatives & workfare as above.

Promote environmental initiatives - renewable energy, organic farming, eco housing etc via government business initiatives & workfare as above.

Where self sufficiency is not possible fairtrade to be promoted to level the playing field between national goods and cheap foreign imports but at the same time helping producers in disadvantaged countries.

Encourage the reduction of working hours via improved working terms in order to reduce unemployment and promote wellbeing