Direct Democracy proposal for Economics

Establishment of a state-run bank

The People's Administration believes that the majority of people do not feel that the banks have been made to pay for their own 'mistakes' but instead, feel that they themselves are paying for them and, we believe that the continual high staff pay-outs combined with no prosecutions for criminal bahviour when found guiltyby the courts simply creates further resentment.

David Cameron continually puts the banks before the people because they are his backers and, because 22 members of his cabinet are multi-millionaires, [11 of them multi-billionaires].

PA direct democracy comment: Barclays rate fixing
PA direct democracy comment: Al'Qaeda's bank [HSBC] in cocaine bust - no prosecutions!

Should the People's Administration install direct democracy, we propose establishing a state-founded bank to enter into the private sector which will compete with the established banks [which are private concerns]. Failing banks will not receive state/tax payer assistance and instead, they will become our competition. The banking sector does not have to be nationalised and does not have to be financed by the state either.

To summarise; this proposal allows for the People's Administration to immediately withdraw all state financing of all banks and to regard them as competitors. If any of these private concerns should fail, the new state-run bank can pick up their customers. Any revenues withdrawn from these banks would be used to better-support our economy and the bank itself and it will operate without investing in oppressive investments and will be transparent regarding its financial investments and, whilst UK society complains about 'ethics' within the banking sector, it was only the Co-operative Bank that refuses to invest in arms and/or oppressive regimes.

Who do you bank with?

PA Video PA direct democracy video: Icelandic President - Let banks go bankrupt and prosper
PA Video
PA direct democracy video: Bank of the People could be the future

Accounts with limited facilities will be available without running credit checks, as there are many people who currently can not open accounts with banks [regardless of their financial circumstances]. Not having a credit history, repatriation from abroad and name changes [through marriage etc] are examples of circumstances that can lead to a negative credit score [regardless of defaulting on any previous loan repayments]. Why should anyone be penalised for the occurrence of any of these incidences?

Fixing the UK economy is a cakewalk:

1. Reform to direct democracy
2. Stop printing money [it creates a false economy with a weak currency and a long-term deflation headache]
3. Take back the money we gave to the banks
4. Use 5% of this to establish a state-ran bank of the people
5. Put the rest back into the kitty
6. Collect new banking customers as the big banks fail [cleansing the economy of weak businesses as they go]
7. Implement alternative saving sources [such as freezing foreign aid to richer countries]
8. Implement policy to eliminate benefit fraud
9. Put the tax rate for the richest [Dave's mates] back to 50% and close corporate tax avoidance schemes
10. Incentivise businesses to convert to Eco Capitalism

To summarise; Tax high earners and corporations and use this money to fund an under-lying economy [through investment in social support and employment-creation projects without cuts to public services] and then settle the government debt. The current 'solution' is to settle government debt by punishing the poor and protecting the rich, which will not create wealth and could even create further debt as more and more people become unemployed as the economy retracts even further.

Voting for direct democracy outside a general election

Direct Democracy - Audio

It is up to us, the people [not the politicians] to use the power that we have always had, to choose to implement direct democracy as soon as possible.

This is not a protest campaign.

In accordance with Magna Carta Article 61 and with UN UDHR Article 21 and with all democratic principals up-held by the UN [which the UK is signed-up to], the People's Administration's Direct Democracy Twitter blog is a UN-sanctioned and legally recognised voting format for UK reform to direct democracy - even outside a general election.

Vote legitimately for a peaceful and structured UK reform to direct democracy now simply by following the People's Administration's Direct Democracy Twitter blog and when numbers reach a point of critical mass, we'll do the rest.

Follow: @self_rule

The People's Administration's constitution for reform to direct democracy and our voting protocols for implementing direct democracy have both been accepted by the UK Electoral Commission and the UN as legitimate. In a general election, the People's Administration DOES NOT have to field candidates to secure your vote on the ballot paper. Outside a general election, you can vote for a legitimate reform to direct democracy now by following @self_rule