This paper is a collaboration between Common Weal, Friends of the Earth Scotland, Move your Money and New Economics Foundation. Author: Gemma Bone.
The report makes the case for:
- Not-for-profit “People’s Banks” should be established in Scotland’s regions to offer banking services to local people and business.
- Local banks would be part of a “People’s Banking Network” to share risk and cooperate on training, marketing and the operation of key services such as payments systems.
- A “Scottish National Investment Bank” would help establish these institutions by offering seed funding and structural support. The bank would be institutionally independent from Government but publicly owned, and mandated to promote through its lending sustainable development and employment.
To read the executive summary click here.
To read the full report click here.