Los Angeles: a public bank with a mandate to serve the people?

Posted Posted in Banks, City council, Employment, Energy, Environment, Finance, Local economies, Low carbon, Manufacturing, Renewable energy, Tax, Transition

Voters in Los Angeles will be the first in the United States to choose whether to set up their city’s own public bank to serve the people instead of private interests. LA’s charter currently prohibits the creation of industrial or commercial enterprises by the city without voter approval. The City Council voted on June 29th to put a measure on […]

Should QE now be used for the common good – extending and adapting the work of Birmingham Energy Savers?

Posted Posted in Bank of England, Banks, City council, Devolution, Economy, Employment, Energy, Environment, Finance, Green New Deal, Import substitution, Local economies, Localisation, Low carbon, Manufacturing, Planning, Politics, Renewable energy, Transition, Transport

. Quantitative Easing currently benefits the non-bank financial sector, commercial banks and the Treasury Under QE, Hansard evidence informs us, the Bank of England’s Asset Purchase Facility purchase of just under £375bn of government bonds from the non-bank financial sector has led to a lowering of long term interest rates. The non-bank financial sector and commercial banks now hold more […]