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Hines: using quantitative easing and housing bonds constructively

June 14, 2017

Thomas Attwood would surely have agreed with the prescription offered by Colin Hines, a former co-ordinator of Greenpeace International’s Economics Unit, of providing hope, not just for the young, but for every community in the country.

His letter in the Guardian continues: ”To do this Jeremy Corbyn must revisit and vigorously shake his people’s QE “money tree”. This could pay for real economic activity on the ground via decentralised infrastructure projects to make the nation’s 30 million buildings energy efficient, ensure a shift to localised renewable energy and the building of local transport systems.

Secondly, the divide between young and old must be bridged by policies fostering intergenerational solidarity. Older people with significant savings should be offered “housing bonds”, paying, say, 3% interest to help fund a massive council and affordable homes programme.

Tuition fees would be scrapped, but so too must be the threat of having to lose a home to pay for care, or having to scrabble for means-tested benefits such as heating allowances.

Financed by progressive and fairer wealth and income taxes, and a clampdown on tax dodging, this should have an election-winning appeal to the majority of grandparents, parents and their young relatives.

 

 

 

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