Where does money comes from? In the 97% of the money we use is created by commercial banks out of thin air, as they advance credit. Charlotte Jackson argues that this system costs us all dear - as citizens, debtors, taxpayers, and as victims of economic instability
… the money we use was a root cause of the financial crisis. Through their lending, banks … In the decade leading up to the financial crisis, this money was directed primarily into the financial and property markets with only 13% …
The UK's financing of fossil fuels abroad increased tenfold in two years to exceed £1 billion in 2013 / 2014, writes Christine Ottery. Incredibly, the fossil fuel funding increase came after a government promise to use the money to support 'innovative and green technologies'.
… UK's soaraway financial support to foreign fossil fuels … and green technologies'. The UK government financial support to fossil fuel industries … almost £1.1bn was handed out in the last financial year, 2013 / 2014, more than ten …
The UK's nuclear deal with China makes no sense, writes Jeffrey Henderson - unless you factor in the simultaneous agreement to forge lucrative links between UK and Chinese financial markets. Lucrative, that is, for the City institutions whose interests the British government so assiduously represents. As for the rest of us, our task is simple: to bear the ever-growing cost.
… forge lucrative links between UK and Chinese financial markets. Lucrative, that is, for the … the inter-penetration of the two countries' financial services. There would seem to be no … interests they might serve, the needs of financial services must be paramount. And the …
The UK's community energy sector was badly hit by the financial regulator's sudden decision this summer to disallow renewable energy co-operatives, writes Tammy Calvert. A consultation on the topic ends tomorrow, Friday - so get your views in quickly while you can!
… community energy sector was badly hit by the financial regulator's sudden decision this … get your views in quickly while you can! The Financial Conduct Authority (FCA) has been … limited by shares. But last summer the Financial Conduct Authority suddenly - and …
UK local authorities have £14 billion invested in fossil fuels, campaigners revealed today. Now they should re-invest it in solar energy, new housing and other areas that generate local and global benefits - as well as providing better security for pension holders.
… fossil fuel exposure and reveals both the financial threat to pensions and the climate … the data. "There's a strong ethical and financial case for local councils to divest … councils are failing to properly manage the financial risks of investments in fossil fuels …
Plans to create a market in nature itself are fraught with danger, writes Alex Scrivener. Biodiversity offsetting could allow the fate of our forests, rivers, meadows and wildlife species, and the people who depend on them, to be determined by the whims of multinational corporations and speculative investors.
… It's the year 2024. You tune into the financial TV news bulletin to hear that the … closer than you might think. In fact, this 'financialisation' of nature is already with us … those who argue in favour of ascribing financial value to natural capital often claim …
The UK-China plan for new nuclear build in England defy the evolving reality of 21st century power networks, writes Paul Dorfman. In China itself, the nuclear dream is hitting construction problems and delays, while wind and solar blossom at ever falling cost. But the phenomenon is global. Despite some governments' nuclear obduracy, renewables are winning the race hands down.
… nothing has been signed yet, despite the huge financial incentives being offered by the … amongst UK commentators about the huge financial burden on taxpayers, as Hinkley … confirmed in BP's recent ' Energy Outlook '. Financial risk Moreover, a sense of unease …
During the past weeks, the world’s media have been transfixed by the convulsions of the US and global fi nancial system. At stake are billions in bail-outs and trillions in derivatives. The viability of banks and currencies is threatened, and ultimately the savings and investments of hundreds of millions of ordinary people.
… Richard Heinberg | 1st October 2008 Comment Financial Collapse Ecological Collapse … fi nancial and environmental news? Of course financial turmoil has real-world consequences … endured a depression, currency collapse or financial panic at least once every decade or …
The FCA is accused of undermining official policy by refusing new applications for community energy projects with a co-operative structure, writes Adam Vaughan. The key question: what is a bona fide co-op? Is investment alone a valid form of participation?
… Green energy co-ops blocked by UK financial regulator Adam Vaughan Guardian … of the 'big six' is being put at risk by the Financial Conduct Authority, according to …
Doubts are growing doubts that the Hinkley C nuclear power station, the EU's biggest construction project, will get the final go-ahead from the UK government, writes Paul Brown. And that's leaving the European nuclear industry, already in serious financial difficulties, facing a struggle for survival.
… European nuclear industry, already in serious financial difficulties, facing a struggle for … reviewed as French energy companies now seek financial backing from China and Saudi Arabia … for British consumers. Peter Atherton, of financial experts Liberum Capital , believes …
This week Chancellor George Osborne told Parliament that the power from the planned Hinkley C nuclear plant would be cheaper than onshore wind, writes Doug Parr. That could be true on Planet Zog - but here on Earth the reverse is the case. Exactly what are Osborne and his Treasury mandarins smoking?
… station . On the one hand, earlier today the Financial Times joined environmental … has withdrawn his support. But the reason the Financial Times offers for its view is … feels a bit different when Europe's premier financial newspaper says the same. Other media …
Theresa May's first big decision as PM was to duck out of a signing ceremony and review the Hinkley C nuclear project. But she will soon have to reach her decision. In this open letter Scientists for Global Responsibility set out six compelling reasons for her to let the whole monstrous white elephant go.
… nuclear (see below). This has caused leading financial commentators - such as The Economist … - to call for HPC to be scrapped. 3. EDF's financial position is too precarious for it to … agencies starkly illustrates the serious financial problems of the corporation, and …
Using sophisticated financial engineering, Thames Water is making its customers pay almost the whole cost of its £4.2 billion London sewage tunnel. Is it time England ditched corporate ownership of its utilities and adopted Wales's 'non-profit' model?
… tw-burst-main-cut.jpg Using sophisticated financial engineering, Thames Water is making … led the way in engineering water bills for financial gain. The asset that interests them, … in a position of having to adjust to the new financial reality. Ofwat operates a regulatory …
The UK government kicked away one of the main financial supports for renewable energy in yesterday's budget. The surprise move will cost the sector £3.9 billion over the next five years and undermines any prospect of the country meeting its EU renewable energy targets.
… The UK government kicked away one of the main financial supports for renewable energy in … would cost renewable energy producers "vital financial support" . "The Chancellor says the … had already announced an end to future financial support for onshore wind - even …
Why are we so surprised at the Google tax heist? It's not because there's anything new about it, writes Donnachadh McCarthy. It's because our own political class have long their noses in the trough, and the tax-dodging billionaires that own our mainstream media are anxious to hide the swindle that's keeping them rich, and us poor.
… to convey is that Gauke worked in corporate financial services as a solicitor in the financial services group Macfarlanes, a … also that over 50% of Tory funding comes from financial services almost all of whom are …
The Government has refused to publish its report on the cost effectiveness of England's badger cull because it is 'still in draft form'. Campaigners say the real reason is that it reveals the cull to be cruel, ineffective and incredibly expensive.
… (FoI) from the Badger Trust to its promised financial reappraisal of its badger cull … (see images, right) Defra revealed that the financial assessment had been performed and … that the cull policy could lead to huge financial loss or budgetary over run: "With …
The UN climate summit, which took place in Germany this month, saw slow but steady progress on setting up the rules to implement the Paris Agreement. ARTHUR WYNS provides a comprehensive summary of the technical UN climate talks
… should report on action they take and what financial aid should look like. Primarily … how developed countries communicate the financial resources they plan to deliver to … COP session in Poland later this year. Other financial topics under discussion were the …
When seeking a new Vice-Chair for the BBC Trust, would you seek out a distinguished journalist? Or the Chairman of Europe's biggest arms company, one with a murky past of corruption and supplying deadly weapons to despotic governments? For the British oligarchy, writes Harry Blain, the answer is obvious.
… distinguished by "strong links with the financial sector" , and roles on the boards of … Trust is Rona Fairhead, who was CEO of the Financial Times Group from 2006-2013. Her … entertain." 'More trustees with business and financial backgrounds' Maybe we shouldn't find …
Energy Secretary Amber Rudd's plan to deliver the UK's emissions reductions promised in COP21 rely on nuclear power as the main 'low carbon' energy source, writes Paul Flynn. But the high cost of nuclear, and the ruinous track record of current technologies, show that this path leads only to massive failure at public expense.
… prospect that they are incubating a looming financial cataclysm. The magnitude of the … of economic and technological failure The financial deal has an incredible history. All … record of failure are pushing ahead. The financial forecast disregards the problem of …
Given the long list of technical and financial problems afflicting the Hinkley C power plant, writes David Thorpe, the Labour Party's continuing support for the over-priced, highly subsidised project is increasingly paradoxical. Labour must take a fresh look at HPC and the renewable alternatives that can do better at far lower cost.
… (CC BY) Given the long list of technical and financial problems afflicting the Hinkley C … resignation of Electricite de France's Chief Financial Officer Thomas Piquemal - after … Infrastructure Loan Guarantee, a type of financial support that is available to a large …
A bill to quadruple the UK's aid funding to a profit-driven 'private equity' company owned by the government comes before MPs today for its third reading, writes Global Justice Now. Trouble is the investments do little or nothing for the poor, and instead entrench corporate power in health, education and infrastructure. Parliament should seize this last chance to reject the new law.
… salaries and bonuses. Since 2012, CDC's financial returns from its investments have … it would only raise the potential to increase financial assistance, and that it alone … communities and was more focussed on securing financial return; that it was not transparent …
This week Finland cancelled its option for a second European Pressurised Reactor as the existing EPR project sinks into a abyss of cost over-runs, delays and litigation, writes Jim Green. It now looks like the EPR is a failed technology and its owner, French nuclear giant Areva, is fast running out of both money and orders as its 'hot prospects' evaporate.
… the Flamanville EPR project as one "beset by financial mismanagement with rocketing costs, … in 2013 but unresolved issues (including financial arrangements) continue to delay the … wrong horse at the wrong time - the Global Financial Crisis and its aftermath, stagnant …
Little publicised government plans to 'reform' court costs are intended to foreclose access to environmental justice for all but the wealthiest individuals and communities, writes Paul Mobbs. Meanwhile cuts to agencies and regulators will make it ever harder for them to do their jobs - making public participation in environmental protection all the more important.
… claims '. The proposals would diminish the financial protection for members of the public … Where will those defending the case get that financial information to argue for more? Those … - will have to divulged their entire personal financial circumstances to all parties …
In this new age of austerity money is a perpetual struggle for the public sector and ordinary people, writes Pete Dolack. Yet central banks have squandered trillions to boost profits in the financial sector, reward speculation and push up real estate values. In fact, the world is awash with money as never before - our money. Just don't expect to get your hands on it any time soon.
… squandered trillions to boost profits in the financial sector, reward speculation and push … to work and enable them to get on their feet financially, those with more get more. European non-financial companies are estimated to be …