James notes that the Green Party has only one MP in Parliament, “the distinguished and effective Caroline Lucas”, adding that it deserves more clout in the 2015 general election, making:
“The one truly constructive announcement for the future from any of the 2013 party conferences”.
The proposer of the motion, Andrew Waldie of Kent Green Party, said:
‘The
privatisation of the money supply by stealth must be reversed. The
creation of a country's national currency is in the interests of all its
citizens, and as such should be put under public control.’ He added:
‘In
voting for this motion, the Green Party has put in place the third part
of a trinity of radical policies to finance the move to a post carbon
and equitable economy. Public credit creation joins the Citizen's Income
and Land Value Tax as the three jewels in the crown of our economic
policy.’
Molly Scott Cato, the party’s Economics Spokesperson added:
‘For
too long the ability to create credit has been the preserve of the
private banking system. The financial crisis demonstrated that banks are
not competent to exercise this vital power and I am proud to represent a
party that has the courage to reclaim the right to create money to a
democratic authority that will operate in the interests of society at
large rather than the private shareholders of banks.’
‘The
Green Party of England and Wales joins the United States Green Party in
opposing the creation of money by private banks and backed by debt. The
motion outlines how a Green government would end fractional reserve
banking and delegate the money creation function to a National Monetary
Authority. Direct credit creation would enable investment in public
services and green infrastructure’.
A search for the text of this motion,
outlining how a Green government would end fractional reserve banking
and delegate the money creation function to a National Monetary
Authority, was fruitless. If this is sent in, it will be added here.