In the development of a sustainable world economic system, the local economy is the arena in which many of the key decisions must be made. In accordance with the Green Party objectives of bringing decision making to the most appropriate level, and promoting self reliance within communities and regions, revival and support of the local economy is of the greatest importance.
Policies are necessary to enable more local needs to be met by local work using local resources.
Policies Policies to increase local investment and the circulation of local finance within the community, include the development of democratically accountable Community Banks, designed to encourage local people to invest in local economic activity and empowered to create credit at interest rates sufficient only to cover administration when channelling local savings into economically and environmentally sound community enterprises. They should include removal, where necessary, of national restrictions. We will promote Credit Unions and skills exchange schemes, along with researching the best use of local currencies and encouraging their adoption. In a decentralised economy, most taxation will be levied, most public services provided, and most expenditure decisions made at local level by local government. Each local government must be free to decide its revenue and spending priorities, within the limits of regionally, nationally and internationally agreed resource and environment needs.