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Our economics

Image 1 for Our economics

Our economic system does not work. It fails to provide the basic necessities of a civilised life for everyone, and yet it is consuming vast amounts of resources which can never be replaced. We cannot go on like this.

Conventional economic thinking is flawed. Other political parties strive for ‘economic growth’, which may sound impressive, but what does it mean? It is simply a measure of how much money changes hands, but it cannot show whether that activity makes things better or worse for most of us, or the damage it does to the environment. Nor does it take account of the vast amounts of unpaid ‘work’ which takes place and on which our society depends.

In a world of finite resources, it cannot make sense to depend on economic growth. Yet only the Green Party seeks an economic system which recognises the limits of the natural systems of the planet: an economic system which must at the same time support the needs of all people.

It is Green Party policy to:

* Introduce a Citizen’s Income for all, sufficient to cover basic needs, and redistribute wealth from those who have plenty to those who don’t. Only a society which shares the benefits of the economy fairly and provides for the needs of all its members can ever be sustainable.

* Ensure that taxation and regulation discourage pollution and the wasteful use or over- use of finite resources, and encourage ecological sustainability.

* Encourage local production for local use, by promoting small-scale local businesses with appropriate subsidies and with import tariffs and controls.

* Reduce the powers of transnational companies, create a network of publicly- owned community banks, and stay out of the single currency.

* Curb speculation in land – the most fundamental of precious resources, which should be ‘a common treasury for all’.

* Measure economic success in terms of the quality of all peoples’ lives, rather than the quantity of money spent or resources consumed.