{"id":34031,"date":"2016-07-11T10:11:53","date_gmt":"2016-07-11T09:11:53","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=34031"},"modified":"2016-07-11T10:12:20","modified_gmt":"2016-07-11T09:12:20","slug":"negative-interest-rates-are-not-the-real-answer","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2016\/07\/11\/negative-interest-rates-are-not-the-real-answer\/","title":{"rendered":"Negative interest rates are not the real answer: a Green New Deal is"},"content":{"rendered":"<p>This week the Bank of England is very likely to reduce interest rates.<\/p>\n<p>It might also resume conventional QE.<\/p>\n<p>Neither will work. They are failed monetary policy.<\/p>\n<p>What we need is fiscal policy.<\/p>\n<p>VAT cuts would be a start.<\/p>\n<p>Acceptance of more debt would help (and conventional QE only makes sense as a backstop to this).<\/p>\n<p>But most of all we need People's Quantitative Easing, or <a href=\"http:\/\/www.taxresearch.org.uk\/Blog\/2015\/03\/12\/how-green-infrastructure-quantitative-easing-would-work\/\">Green Infrastructure Quantitative Easing<\/a>\u00a0as it was when I proposed it.<\/p>\n<p>Tinkering at the edges of the financial system cannot solve the mess we're in.<\/p>\n<p>Getting people to work in every constituency - releasing a Carbon Army to bring out energy systems, transport, housing and more into the 21st century - is the way to solve that mess in a way that will change real lives.<\/p>\n<p>And we would do it now.<\/p>\n<p>It's the <a href=\"http:\/\/www.greennewdealgroup.org\/\">Green New Deal<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This week the Bank of England is very likely to reduce interest rates. It might also resume conventional QE. Neither will work. They are failed<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2016\/07\/11\/negative-interest-rates-are-not-the-real-answer\/\"><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-34031","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\/34031","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=34031"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/34031\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=34031"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=34031"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=34031"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}