2012/01/09 EWG Minutes

2012/01/09 EWG Minutes

Minutes of Economics Working Group – Monday January 9th 2012 5pm

Present: Julianna, Peter, Chris F-D, Tim, Dave, Fabian, Chris C, Mike, Robert, Janus, Elena, Jane

1. Beyond Capitalism

Plans for the ‘Beyond Capitalism’ debate at the Bank of Ideas on Sunday Jan 15th are coming on well.

2. Banking GA

This has been provisionally scheduled for Friday January 20th. It was tentatively agreed we would lead off with a description of the mechanism which lead to the recent crisis (largely to do with regulation), and an outline of the current predicament we now find ourselves in. This would be done by Mike. We will then have a discussion about possible solutions to the crisis, breakout groups to discuss these solutions in more detail, then feedback to the entire gathering. We need to agree on which of the many possible solutions we could put forward to the GA for discussion, and Dave, Mike, Fabian and Tim all agreed to think about this. Other members of the Economics WG are encouraged to do likewise, and this will be further discussed at the next meeting.

3. Economic Crimes

Tim said he was making good progress at gathering information on Economic Crimes but was still looking for more submissions.

4. Liaison with Other Groups

eg UK uncut etc. This is still ongoing.

5. Stamp Duty

The government has announced an intention to stop the practice of people avoiding paying stamp duty on house purchases by registering private homes as company property. However they haven’t said how this will be done or who is looking at it. Dave to find out more.

6. Announcements

Yesterday the Economics Working Group was able to get out a press response to David Cameron’s statement about curbing executive pay within 24 hours of the statement being made. This was deemed to be a success and something we should try to continue as Occupy starts to increase its influence in the mainstream media. To this end we agreed the following:

Whenever anyone sees any Economic statements, comments, articles etc in the media which they believe are deserving of a response from Occupy, they should immediately E-mail details around the Economics Working Group. Anyone who feels moved to contribute should then waste no time in formulating a response, we will work together to collate all responses into a single missive, and forward to the Press Team for release as appropriate. From now on we will be aiming for a 24-hour turn round in getting responses agreed and issued.

On the specific subject of executive pay, it would appear that David Cameron has turned this into a major election issue, so there will lots of opportunities for us to get involved in what will probably be a very high profile public discussion. On a related theme it was noted that the FT is this week running a series of articles entitled ‘Capitalism in Crisis’.

7. Liaison with Sympathetic Economists

Fabian has produced a spreadsheet which he will circulate.

8. FSA

It was noted that tomorrow at 10.30am there is a major Occupy event at the FSA building in Canary Wharf (meet at Canary Wharf tube at 10.00am), including Labour and Conservative MP’s, and everyone is encouraged to attend.

9. Tax Justice Network Newsletter

There is a meeting to discuss this on Thursday at 3pm in the Paternoster pub.

10. Treasury Select Committee

We discussed the possibility of proposing Chris Cook’s ideas for ‘Resilient Finance’ to the TSC. It was agreed we need to go away and think about this some more.

Next Meeting

Friday 13th at 5pm in meeting Dome next to Tent City University.

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