2011/12/16 EWG Minutes

Economics’s Docs 2011/12/16 EWG Minutes

Minutes of Economics Working Group – Friday December 16th 2011 5pm

Present: Jan, Julianna, Peter, Chris I, Duncan, Dada, Liam, Chris F, Chris F-D, Tim, Robin, Anesu, Dave, Julian, Inka, Rob

1. Move Your Money Campaign

Danielle from the Move your Money Campaign (which came out of UK Uncut), outlined plans to persuade people to move their money from ‘bad’ financial institutions to ‘good’ financial institutions. This would start in January with a list of which financial institutions are deemed ‘good’ and ‘bad’, with the intention that people would start moving their money in March. The campaign is supported by the GMB and 38 degrees. We said we would in principle support it too.

2. Reports from Sub Groups

Banks – Main Contact – Tim; Members – Tony, Hannah, Rob, Robin, Duncan, Noelia, Chris I; Meetings – normally on Saturdays; Progress – scoping their remit which includes derivatives, debt exchange, credit unions, payday loans.

Sustainability – Main Contact – Mattia; Members – Liam, Julie, Chris F; Meetings – next meeting 3.30pm Saturday; Progress – getting things started.

Tax Havens – Main Contact – Peter; Members – Leon, Dave, Chris F, Chris F-D; Meetings – one so far; Progress – on-line investigation of issues involved.

Economic Democracy – Main Contact – Noelia; Members – Dada, Chris, Noel, Michelle; Meetings – one so far; Progress – defining their purpose.

Land and Housing – Main Contact – Chris F-D; Members – Chris F, Chris I, Tim, Rob, Noelia, Mark, Robin, Hannah; Meetings – meet every Friday at 3pm in Ye Olde London; Progress – talking through the issues involved.

Education – Main Contact – Chris F; Members – Dave, Fabian, Chris, Daniel; Meetings – several so far; Progress – TCU economic degree course intending to launch Monday.

Austerity – Main Contact – Anesu

Inequality – Main Contact – Chris F; Members – Mattia; Meeting Saturday

Regulation – Main Contact – Duncan; Members – Anesu.

3. Calendar

It was agreed to put Economics WG meetings and sub-group meetings on the main online calendar.

4. E-Mail

It was agreed that sub-groups could set up their own E-Mail circulation lists if they wished.

5. Housing

Chris F-D reported on progress so far from the Housing sub-group, outlining changes in the housing market from the end of the Second World War to the present day, and highlighting differences in the housing market between certain countries in Europe. There then followed a long discussion between members of the group about issues in Housing – details not recorded here.
6. Treasury Select Committee

Following the meeting with the FSA we have taken steps to meet the Treasury Select Committee. We agreed the best thing to start with was to take one or two key issues to them, as Andrew Tyrie has indicated a willingness to investigate something on our behalf. Two suggestions were Tax Havens, and the problem with the current tax system which rewards speculation and debt.


Liam said the latest Economics Working Group tour of Canary Wharf was a success and more were planned. There was now significant foreign media interest.

Next Meeting

Monday at 6pm in Café Nero – Please forward agenda items to Dave asap.

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