Thursday, February 09, 2012

Helping pension schemes & more on Green QE

The Bank of England is to feed £50bn into the banking system under its latest QE scheme. This is greeted with 'dismay by the pension industry' (see BBC News) as it fixes annuity returns with very low interest rates and it knocks final salary pensions schemes further into the red. 


We are obviously in a fix and it is helpful to read banking expert Richard Werner in the latest Policy News from the Centre for Banking Finance and Sustainable Development: He writes of solar roof panels and says that Green QE could be directed to pay for these photovoltaic schemes which would help households, installation firms, the economy and the environment. He says the Bank of England could create the money for free. 'Why should they charge, since they created the money out of nothing in the first place?'


He also has Green QE advice for the government's Green Deal  £16bn energy efficiency programme that could help local authorities with their funding and also help pension funds generate better income. Read CBSFD Policy News about it and much more - now on the Free Lunch Website.
Posted by Charles Bazlinton author of The Free Lunch- Fairness with Freedom, the book written before the economic crisis erupted, with solutions that would help prevent it happening again.  


  

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