Latest policy statements

Stabilising the U.K. Economy

 

Urgent action needs to be taken if the United Kingdom is not to fall into a deep recession that will see mass unemployment and home repossessions.

 

We do not want the U.K. economy to return to boom and bust or a re-growth in excessive consumerism and unsustainable jobs. The policies we adopt are:

To encourage the development of co-operatives and mutual societies with employee participation and ownership.

 

To retain one bank in public ownership this ‘national bank’ would act as a benchmark for other banking institutions, including those eventually returned from state shareholding. The bank would be commercially run with Bank of England interest rate cuts being passed on to customers and a guaranteed rate of interest to savers. Investor’s savings should be entirely protected. The Government should then only underwrite the savings of depositors in other banks to £35,000.

 

To stabilise the stock market by ensuring long-term investment. Shares should hold for five years. At the end of each five year period the investor would determine the performance of the company, dividends paid and either retain the shares or cash them in.

 

To stabilise the housing market mortgages should be fixed term, so that the borrower is certain of the monthly amount and their financial commitment. Homeowners should be protected from house repossession if they can pay 25% of their monthly salary or wages.

To ameliorate the debt crisis Peoples voice believes:

 

Only not for profit organisations should offer debt advice.

 

Debt below £3,000 incurred before 2008 should be written off. We think this is entirely equitable since banks have received billions of pounds from the taxpayer.

 

Personal financial should be taught in all schools, particularly to encourage a culture of saving and self-reliance.