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.
Thanks for reading this post.
You can share this post on social media of your choice by clicking these icons:
There are links to this blog's glossary in the above post that explain technical terms used in it. Follow them for more explanations.
You can subscribe to this blog's daily email here.
And if you would like to support this blog you can, here:
Buy me a coffee!
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.
[…] Richard Murphy Posted in Uncatagorised. Tags: banking, economics, local government, public […]