{"id":12344,"date":"2011-10-11T17:45:27","date_gmt":"2011-10-11T16:45:27","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=12344"},"modified":"2011-10-11T17:45:27","modified_gmt":"2011-10-11T16:45:27","slug":"third-time-lucky-mervyn-king-should-make-it-green-qe3","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2011\/10\/11\/third-time-lucky-mervyn-king-should-make-it-green-qe3\/","title":{"rendered":"Third time lucky Mervyn King should make it Green QE3"},"content":{"rendered":"<p>From <a href=\"http:\/\/www.guardian.co.uk\/business\/2011\/oct\/10\/still-pull-back-economic-abyss\" target=\"_blank\">today's Guardian<\/a>, from my Green New Deal\u00a0colleague\u00a0Colin Hines:<\/p>\n<blockquote><p><a title=\"More from guardian.co.uk on Mervyn King\" href=\"http:\/\/www.guardian.co.uk\/business\/mervyn-king\">Mervyn King<\/a> is right that the UK is looking over an economic abyss (<a href=\"http:\/\/www.guardian.co.uk\/business\/2011\/oct\/06\/britain-financial-crisis-quantitative-easing?newsfeed=true\">Britain in grip of 'worst ever financial crisis'<\/a>, 7 October), but giving greedy, tight-fisted banks a further \u00a375bn in the hope that this time they will lend enough to business is a fantasy.\u00a0<a title=\"More from guardian.co.uk on Quantitative easing\" href=\"http:\/\/www.guardian.co.uk\/business\/quantitative-easing\">Quantitative easing<\/a> should instead have been used to increase economic activity and hence jobs and business opportunities. Without that, who is going to want to borrow when for many businesses the real crisis is increasingly a shortage of sales and not a shortage of capital.<\/p>\n<p>The\u00a0<a title=\"More from guardian.co.uk on Bank of England\" href=\"http:\/\/www.guardian.co.uk\/business\/bankofenglandgovernor\">Bank of England<\/a> could have started to tackle this demand deficit, had it used a substantial percentage of the \u00a375bn to finance a green new deal to make all UK buildings energy efficient. This would have helped kickstart the economy by creating hundreds of thousands of jobs where people actually live. King admits he will probably need a QE3, but to be third-time lucky he should make it a green QE3. It could even be nicknamed plan B.<br \/>\n<strong>Colin Hines<\/strong><br \/>\n<em>Convenor, Green New Deal Group<\/em><\/p><\/blockquote>\n<p>Full details of <a href=\"http:\/\/www.financeforthefuture.com\/GreenQuEasing.pdf\" target=\"_blank\">Green\u00a0Quantitative\u00a0Easing here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>From today&#8217;s Guardian, from my Green New Deal\u00a0colleague\u00a0Colin Hines: Mervyn King is right that the UK is looking over an economic abyss (Britain in grip<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2011\/10\/11\/third-time-lucky-mervyn-king-should-make-it-green-qe3\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35,74],"tags":[],"class_list":["post-12344","post","type-post","status-publish","format-standard","hentry","category-economics","category-green-new-deal"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/12344","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=12344"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/12344\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=12344"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=12344"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=12344"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}