Credit Union for Kent - Letter to the Kent on Sunday

Letter to the Kent on Sunday

Dear Editor,

It is good news that Kent County Council is finally going to set up a Kent wide Credit Union. Publicly owned and democratically controlled banking is the only way forward for banking. We have all witnessed what happens when you let profits and greed take control of an unregulated economic system and KCC has first hand experience of this with its huge losses in Iceland. Let us hope, therefore, that they have learned their lesson on how to look after public money when they open the credit union.

Of course, KCC should do a lot more good than just providing savings and loans. A fully functioning, local government run bank for the people of Kent would be useful to many and hopefully more safe that most of the high street ones.

KCC should also move many of its own investments away from unethical companies such as those that manufacture arms and tobacco, and invest in green industries. Investing in energy saving schemes, producing renewable energy, effective public transport and local food production will not just provide a more healthy return on investments but will also ensure a better future for us all while providing much needed jobs now.

Stuart Jeffery
Green Party general election candidate for Maidstone and the Weald