“The Treasury…may by order give the Bank directions with respect to monetary policy if they are satisfied that the directions are required in the public interest and by extreme economic circumstances” – Section 19, Bank of England Act 1998.
Theresa May is getting nervous. She’s seen the polls slip away from her. She’s seen the abject rejection of conservative politics first in Scotland and now in England too. She has just admitted that she jumped into her personal snap election whilst her party was completely unprepared to fight it. She is far from “strong and stable.
And now she’s getting worried by the growing pull towards the more interventionist economic policy advocated by Jeremy Corbyn and has responded with a speech defending Austerity and celebrating free market economics on the day of the 20th anniversary of the independence of the Bank of England. And so has begun fairly vapid tirades warning against the “dangers” of nationalism and populism.
“It seems obvious: the reason only a tiny percentage of new…buildings and retrofits aren’t green isn’t cost. It’s lack of ingenuity or knowledge of new construction techniques — architects and builders wed to the ‘same-old,’ lenders leery of anything unconventional.” – Sustainable Energy Africa
Housing – buildings in general, in fact – needs to be about more than just four walls and a roof. It also needs to be about more than vague promises of “more houses built” or about a volume-based industry which tries to extract as much profit per square metre as possible or being about more than the landlords who swoop in afterwards to do the same.
And with around 53% of all energy use in Scotland being used for heating and only a small fraction of it coming from renewable resources, it needs to be about more than throwing up any old building and passing the costs and consequences on to those who’ll have to live and work in them for decades to come.
Recently, I got the chance to experience a glimpse of what a better future might look like in the form of a tour around South Lanarkshire College’s ‘Aurora’ Low Carbon House.
“Russia is deliberately interfering in Western Democracy through the use of disinformation, cybercrime, psychological manipulation and the collaboration of well-placed third parties. This hybrid conflict is live.” – J. J. Patrick, Alternative War
Something a little bit different for the blog this week as I review a book which entered my sphere of attention lately.
“It’s a Common Weal program for government.” – In an email sent to Common Weal today.
Today saw the return of the Scottish Parliament for the 2017/18 session and the opening speech by the First Minster introducing her program for government. You can watch the full speech below.
After far too long of what seemed like the political doldrums of a couple of fairly drab elections and the ever endless string of intentionally depressing political headlines, this speech was a remarkably refreshing change of pace with some fairly strong statements of intent in several areas.
Notably, Common Weal appears to be finally having a significant influence on the political direction of government with several of our policies now being talked about openly or outright adopted as policy.