Greens to champion 'economic democracy' at annual conference

By staff writers
September 1, 2012

‘Economic Democracy’ is likely to be the watchword for the 2012 Green Party of England and Wales conference, which begins on 7 September.

At a time when ordinary people are struggling, "we have a government offering Austerity and an opposition offering Austerity 2.0," says the party.

At their annual conference next weekend, the Greens say that they intend to present "a coherent alternative for Britain’s economic future."

Economic Democracy presents a package of resilient and community-based measures to help prevent a repeat of the financial crisis, says the Green Party.

It claims that four key remedies will produce greater transparency, decentralisation of economic power, and accountability from corporations.

* Accountability will improve by requiring companies to include employee-elected directors and independent directors on to their management board. Not being drive by the profit-motive, they will act to ensure that company policies are taken with the interests of employees and consumers at heart.

* Decision making can be decentralised and democratised by giving employees a majority stake in the management of their companies' pension funds.

* Creating a Green National Investment Bank out of one or more of the currently ‘nationalised’ banks will aid funding investment in green technologies, renewable, and energy efficiency programmes. A Green Bank would serve its customers and not its owners, says the party.

* Economic decision making can be further localised by granting employees the legal right to buy out their companies and turn them into workers co-operatives. Buy outs would be funded by the Green National Investment Bank.

The proposals will be put forward by Howard Thorp, candidate for Campaigns Co-ordinator in the party’s current internal elections. The Greens' media teams says it is "likely to be warmly received by the Party, which continues to place employment and fairness at the heart of its economic policy."


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