For most people in Scotland, the economic crisis is far from over. Wages have fallen. Jobs are less secure than ever and dignity has been stripped from our welfare system. For the first time in a generation, there are families in Scotland being forced to suffer the pangs of hunger. The richest are getting richer. Corporate profits are growing once more, but they do so at the expense of the rest of us.

Scottish Greens demand a different path. The Government could choose to build a new Scotland, not re-inflate old bubbles. They could choose to invest in people, not throw us on the scrapheap. They could be the architects of a better nation. Instead, they are flogging our assets to those who caused the crisis. The true wealth of the country lies in us – the people. We should curtail the power of the profiteers and ensure an economy run by the people, for the people

 

Fighting austerity

Greens support a fairer tax system, where the wealthiest contribute more and no one is allowed to dodge paying their taxes. EU governments lose a trillion Euros a year to tax dodging.  We oppose austerity and don’t believe the poorest should have to pay for a crisis they didn’t create.

As your Scottish Green MEP Maggie will:

  • Oppose austerity and work to stop the EU and European Central Bank imposing it on any country.
  • Push for investment in our future economy, not the cuts, deregulation and privatisation which are destroying communities across Europe.
  • Take action on tax evasion and avoidance including pushing the EU and its member states to take action by pursuing stricter international agreements and changes in national and EU rules.

 

Reforming banking and finance

The banking system which failed in 2007/8 has not been fixed. It must be changed radically as a matter of urgency in order to prevent a future economic collapse. Finance must be made the servant of the real economy, not the inflator of ever more bubbles. We need to build a new manufacturing sector in Scotland and across Europe, engineering the tools of tomorrow’s economy.

Greens will push for measures which limit the role of our financial districts and push instead for investment in local manufacturing and the real economy.

As your Scottish Green MEP Maggie will:

  • Push for the EU to break up banks, both in size and function so that retail and investment banking are separate and no bank is too big to fail.
  • Campaign for a Financial Transaction Tax that includes all of the countries of the EU and eventually joins with other global financial markets. This will curb damaging high frequency trading, divert money towards the real economy, and reduce the risk that the markets attack already struggling economies.
  • Push the EU and member states to support regional, co-operative and municipal banks and credit unions that lend to co-operatives, social enterprises, small and medium sized companies, and clean tech.
  • Work to curb bankers’ bonuses and tighten of laws banning irresponsible banking.

 

Currency

Scottish Greens are against joining the Euro and continue to make the case for long-term preparations for a Scottish currency if Scotland becomes an independent country.

We do not believe that monetary policy should be set at an international level, rather it must be sensitive to local economic needs and changes. We also do not believe that new member states of the EU, or newly independent member states of the EU, ought to be forced to adopt the Euro. Where member states wish to leave the Euro, they ought to be supported to do so.

Greens recognise that the Scottish Government’s preference in the event of independence is for a Sterling currency zone, however we believe that such a currency union should only be a short term measure.  Given the likelihood of the Scottish and UK economies diverging we believe that we should stand ready to exert full economic independence using our own currency.