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Green Policies On Banking And Land

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Green Policies


EC662 The existing banking system is undemocratic, unfair and highly damaging. Banks not only create money, they also decide how it is first used – and have used this power to fund financial speculation and reckless mortgage lending, rather than to finance investment in productive businesses. Through the interest charged on the loans on which all credit is based, the current banking system increases inequality. It also regularly causes economic crises: banks create and lend more and more money until the level of debt becomes unsustainable, boom turns to bust, and the taxpayer bails out banks that are “too big to fail”. Finally, the need to service the growing mountain of debt on which our money is based is a key driver of unsustainable economic growth that is destroying the environment.

The 1844 Bank Charter Act will be updated to prohibit banks from creating national currency in the form of electronic credit. To finance their lending, investment or proprietary trading activities, banks will have to borrow or raise the necessary national currency from savers and investors;


LD203 The Green Party believes that the unearned benefits from land-use should be shared amongst the community, and that the community should collect such unearned benefits through a system of Land Value Taxation. Revenues raised by Land Value Taxation would be in substitution of, and not in addition to, other revenues.

LD204 Within an agreed land-use planning framework, a policy of taxing land value would act as an incentive both to encourage good stewardship, and to reduce corporate land ownership. It would encourage the best use of all land compatible with the agreed permitted use, encouraging urban land to be used to its fullest extent, and discouraging land ownership for investment purposes only.


HO401 Housing represents a massive investment of materials, labour, skills and land. While materials and labour are readily available for housing, the existence of land monopoly and speculation leads to empty properties, inflated prices for land and the problem that any financial assistance encourages higher prices. To address these problems the Green Party proposes Empty Property Use Orders (see HO904), increased public land/property ownership, and a Land Value Tax (see LD). Investment in buildings should benefit the whole community, not just the individuals who own them. There must also be investment in the skills required for building and refurbishing houses to a high ecological standard.


I’m a climate change sceptic but would actively support the Greens on the basis of the above.

What do others think?

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Pretty much every fringe party has the same policy on banking. The Green policy on banking could be lifted from one of the BNPs manifestos.

Its only the establishment parties that support the current banking scam, how odd.

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