New Economics Foundation calls for banking reform

At the end of April, the British think tank, nef (the new economics foundation) launched its manifesto on banking. This Manifesto calls for root and branch reform to  control the banks and re-building the system in which they operate.

Nef calls for a credible plan to re-engineer the financial system so that it becomes the socially and economically useful servant of the productive economy.  Nef points out that UK’s financial sector has made itself rich at the expense of an increasingly fragile economy. In the aftermath of the devastating recession and in the face of new challenges like climate change, the UK is facing a Great Transition to a new kind of economy.

nef (the new economics foundation) is an independent think-and-do tank that inspires and demonstrates real economic well-being aiming to improve quality of life by promoting innovative solutions that challenge mainstream thinking on economic, environment and social issues. We work in partnership and put people and the planet first.

nef was founded in 1986 by the leaders of The Other Economic Summit (TOES) which forced issues such as international debt onto the agenda of the G7 and G8 summits.