Green Economy

A truly green economy would promote human well-being and social equality, without placing more strain on the planet than it is able to support.

The Green New Deal calls for greater financial regulation and a redefinition of the goals of macroeconomic policy, focusing far more on improving the quality of life and reducing our carbon footprint. It calls for an end to practices which benefit bankers and traders, but damage the real economy and people. It also calls for a tougher crackdown on tax fraud and evasion, and an end to tax havens.

Government spending and taxation policies hugely influence the economy and people's sense of well-being. They directly affect public and private economic activity and therefore have a major bearing on the Green New Deal.

Ambitious and far-reaching fiscal policies should target the enhancement of public services, and generally, be designed to reward sustainable practices and make unsustainable commercial activity and lifestyles disadvantageous from a tax point of view.

 

 

The Green New Deal calls, amongst other things, for:

  • better financial regulation including a tax on financial transactions and a bank levy;
  • widespread use of environmental taxation in line with the "polluter-pays" principle, including a carbon tax;
  • truly progressive taxation which limits the tax burden on labour;
  • tax incentives for “green” initiatives;
  • the development and use of new indicators which go beyond GDP;
  • better supervision and regulation of capital flows within a European multilateral framework.