Dec 152008
The move towards local banking relevant to the needs of the communities fo Britain is growing apace. The FT has reported:
Kent county council has submitted plans to the government to pool resources from local government bodies around the country into a public sector savings bank.
The proposed bank would use the local councils’ pooled deposits to offset their savings against debts and offer a safe haven for local government funds to invest in local government schemes. The proposal follows on from Essex county council’s plan to set up a bank to support lending to local businesses.
I see this as part of the Green New Deal and the obvious next step towards Peopel’s Pensions.
2 Responses to “Local banks are on their way”
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Richard – you will be interested in some of the ideas aired in the book “The Future of Money” by Bernard Lietaer. Essentially, he sees two separate “money systems” as being necessary to a sustainable future. I am sure that (amazingly!) these are ideas where we will both be in agreement.
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