GP Policies

The GREEN PARTY will take the power of money creation into public hands and radically diminish the negative effect of interest charges on our society.

Money creation and usury
A Green Government will develop and implement a programme of banking reform based on the following principles

i) A National Monetary Authority (NMA), that is accountable to Parliament, creates bank-account money, as private banks do now, providing as much as is needed to increase money supply to balance the production of goods & services in the economy. This money would be used by government as debt-free public revenue for sustainable, socially beneficial development. Government would put this money into circulation by spending it, like other revenue, to create common wealth.

ii) A NMA provides interest-free / low interest loans
(administered by a local & national banking system) available for mortgages, public capital projects, environmental projects, micro-credit, small farms & businesses, student loans etc. and provided wider ownership is thereby furthered, for private capital investment.

iii) Banks as money brokers. The power to create money will be taken from private banks. To lend money banks will be required to borrow already existing money, thus becoming brokers, linking lenders to potential borrowers - as many people wrongly assume happens now.

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