I have just posted this short on YouTube and elsewhere:
This is the transcript:
The result for the Greens in Gorton and Denton is stunning, unbelievable, off the scale. Whatever words you want to use, this was a historic by-election result by a party that is clearly going to shape the future of British politics, and I'm delighted about that because we have needed a left-wing challenge to Labour for a very long time and have not had it.
But, and I want to add a word of warning amongst all the euphoria we've got now, this places an enormous burden on the Greens.
Let's be clear. There aren't many of them in Parliament. Zack Polanski isn't even there yet, and the party processes are incredibly slow. Changing Green policy is difficult, even cumbersome, and requires people to attend at its conferences, which is not a democratic representation as a consequence, and there are still real flaws in green economic policy.
The Greens have to speed up their processes. They have to make sure that they can come up to date. They have to create policies which are acceptable now to people, particularly in the field of economics.
They have still not properly updated their economic policy, which says that the government should create all money. That is absurd. We now need the Greens to have a solid, modern monetary theory-based economic policy that can answer the questions that our economy has and which can liberate money to achieve what they want: full employment, prosperity, equality, a real prospect of tackling climate change, all those things matter. But the Greens, without a sound economic policy based, as I say, on the principles of modern monetary theory, which explains the proper role of money and taxation and how the government should manage both, is not going to be viable.
So I'm delighted for everybody involved in getting Hannah Spencer elected in Gorton and Denton. I admire what Zack Polanski has done. I believe we have an opportunity. But please, can you look at your economics again and again until you have something that is available which will withstand the attack from the right-wing that is inevitably coming your way, because without that reform, without a solid economic foundation, without a justification for the programmes that you want to put in place and which this country wants, you will be in trouble.
So my appeal is this: let's go Green, but let's do so on the basis of sound economics.
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Richard
Have you contacted the Green Party?
I promise you, they see what I say.
Hi Richard – I’m not at the Cambridge event today but hope to get to a future one.
As previously said – I joined the Green Party England and Wales “Economic Policy Working Group” just last month. I totally believe that the real-world economics of MMT is the key to understanding and unlocking our potential.
I agree with much said here in regards to getting the Economic Policy updated and published – having read over the latest unpublished draft for the first time just last week, it really does seem to match up with MMT. I’ll ask on the group discord or in the next monthly online meet to see if we can formally ask for your feedback, along with Dr Steve Keen and Prof Kelton.
From what I can see – the Economic Policy Working Group currently has around 50 of us members, and it looks like there’s a good 5 to 10 who are the driving force – I’m quite sure that the majority are MMT proponents.
I totally agree with other GPEW members that now is the time where any of us who can, must help COMMUNICATE to the members, but also to the population/ citizens about the inarguable fact of MMT and real-world economics..
For anyone interested, Policy Working Groups are open to all GPEW members – although it is true that the request-process to take part can be a little tricky – i imagine this is in part due to the huge increase in membership (approaching 200K March 2026). I’m certain this will all be much improved very soon.. along with a huge push to get all policies up to date – it would be great if this would be up to the point of manifesto ready.. Our collective focus is a force for good..
Join.greenparty.org.uk
Anyhow.. onwards and upwards. “Our time is running out” (muse).
Adey PETERKIN
Thank you
I am happy to comment.
Send the latest version.
I will never leak.
Richard – thankyou for your kind offer –
I will check with Nadine (the co-secratary of the GPEW Economic Policy Working Group) that we can get permission to send the unpublished draft to you hopefully within the next couple of days – your feedback, suggestions and thoughts would, and are, very much appreciated.
Please can you confirm your best email for us to contact you? I think I’ve found it by an online search.
Nadine (Co-Secratary EPWG) has previously commented on the Funding The Future blog site – the GPEW Economic Policy Working Group has the next monthly online meeting on Monday 9th March.
I understand the Policy will be published in the near future, and then communicated to members, ready to vote upon (and pass) at October conference. I imagine that the entire group will want to get the work out into public domain as soon as possible to help with communication at all levels (including Leadership / media questions). The unpublished draft does seem to align with the good Podcast / YouTube conversation you had with Zack Polanski (Bold Politics) November 2025.
For members wanting to join the Policy Working Groups- a link is available for members via emailing the central policy email address, however – I obtained a link via contacting the Co-Secretary directly on LinkedIn (the FundingTheFuture site helped me to find that out – thank goodness!).
Thanks Adey
Please use richard.murphy [at] taxresearch.org.uk
Well done Richard!
Hear! Hear! Nothing to disagree with there!
Richard, you, Steve Keen and Stephanie Kelton need to get a series of meetings with Zach, the Green MPs and the key people in the Green Party to teach them MMT and Post-Keynesian economics and with that foundation help them craft sound economic policies.
Noted
They aren’t the ones who “need a meeting”.
As Richard says, Greens who are into economics and specifically those on the Economics policy working group read his blog and other material; and it’s getting into the policy update.
What IS needed, is a programme of communications so that ‘ordinary’ Green party members and especially those who’ll be at the Conference this autumn understand at least the basics and don’t amend, bend or otherwise undermine the validity of a renewed, revised policy. Although broad demographic support from party members is generally a good way to decide policy, rather than top down imposition or overruling party congress decisions (compare Labour leadership on PR…) on technical matters it needs building a substantial base of understanding.
I hope to have time to meet with some Greens at tomorrow’s symposium!
Colin
This is why we have a programme of 120 (I mean, 120) short videos now beginning.
See you tomorrow.
Richard
Indeed, Richard (and I’ve actually downloaded some for another rather unusual educational purpose I’ll mention tomorrow FYI…
Let’s see how we (in GPEW) can spread the word in chunks that are digestible
Seconded. I know you are a busy man Richard, but strike while the iron is hot and all that.
Thanks
There’s a job for you there Richard! how refreshing would it be for a politician on tv promoting MMT. It would certainly shake-up the neoliberal establishment!
Go for it!
I am not looking for a job.
I already do 60 hours a week.
I attended an Ecology party conference many years ago. Thatcher was PM.
I can confirm what you say about the nature of conference policy making.
Great to hear from someone else who remembers those days.
I first voted in the 1983 General Election, when Margaret Thatcher was riding high after the Falklands War and all the media noise was about the “breakthrough” moment for the Social Democratic Party. I was 18 and voted for the Ecology Party, which of course later became the Green Party.
I have never wavered from Ecology or Green principles. Environmental responsibility, social justice and a different economic model still feel as urgent now as they did then.
These days, as a Californian Scot, I lend my vote to the Scottish National Party because, for me, the single defining issue in Scotland is independence. I see it as the democratic route to creating the kind of country where those Green principles can properly take root.
Different vehicles at different times, but the same underlying values.
Thanks
Thinking about Andy Lippock’s comment above, I know you and your team are constantly reflecting on and reviewing your activities and outputs and I wouldn’t want to cast anything you do in a negative light. This is early days but I am sure the question will arise whether any of that 60 hours could be redirected given the new reality in the making with this by-election result? The Greens will be pushed from all sides now and given the absolute centrality of the need to correct and communicate their economic policy we all need to give thought to how we can influence their direction of travel.
Noted
They need to get rid of some of their stupid policy documents which were enacted during the ‘Challenor ‘ . These policies are still part of the party’s programme. One example is to encourgage the making and sale of pornographic videos. I kid you not. Daily Mail and others of the ilk will start to scutinise everything issued to find stuff to attack with.
I emailed the local Green Party to suggest attendance at tomorrow’s event – let’s hope someone will come but I didn’t hear back…
I know we have Green Party people present
Richard,
Your right Greens can be forgiven their euphoria for now but hard work is needed if they are to scale up in all sorts of policy areas.
The traditional media esp Times, DT, Mail, Express will eat them for breakfast. Supported by BBC, GBnews, LBC and probably the Guardian.
The media is a hostile landscape that is very anti any left wing political views. I wish them well it would be great if the British People had a genuine alternative ready for the GE in 2029.