Motion #04
Finance & Exconomy PWG: Nadine Storey*, Nicole Haydock, Nick Barnett, Alex Page, Sheridan Kates, David Wild, Danny McNamara, Leslie Davies, Colin Boyle
The 2024 General Election manifesto included many economics-related policies. The following amendments, brought by the Finance and Economy Policy Working Group, will correct errors and will support our MPs and spokespeople to put forward clear, defensible and strong policy.
The following are changes proposed to the Green Party General Election Manifesto 2024 (GEM2024) as published on 12 June 2024.
1) Property Taxes
The proposed change is to clarify that this is a central policy and relates to the taxation of wealth.
p. 21 of GEM2024 currently reads:
‘Our long-term policy aim is a Land Value Tax so that those with the most valuable and largest land holdings would contribute the most. In the next parliament, elected Greens will take steps towards this by pushing for… [this is followed by a series of bullet points].’
Conference approves the following changes:
Delete ‘long-term’
After ‘holdings’, insert ‘(a significant source of wealth)’
Delete ‘In the next parliament, elected Greens will take steps towards this by pushing for’
Insert ‘Preparatory steps towards this in the next parliament will include’
Such that it reads:
‘Our policy aim is a Land Value Tax so that those with the most valuable and largest land holdings (a significant source of wealth) would contribute the most. Preparatory steps towards this in the next parliament will include…[followed by the bullet points as they currently appear].’
2) Business Taxes
The change deletes the example of hospitality from the policy to remove VAT as this requires more nuanced policy development in order not to negatively impact health. The biggest beneficiaries of this as currently stated would be purveyors of unhealthy food that contributes to our health crisis, including corporations such as McDonald’s. The example of ‘the arts’ remains unchanged.
p. 21 of GEM2024 currently reads:
‘We would also propose a range of changes to VAT, reducing it on hard-pressed areas such as hospitality and the arts and increasing it on financial services and private education.’
Conference approves the following changes:
After ‘such as’, delete ‘hospitality and’.
Such that it reads:
‘We would also propose a range of changes to VAT, reducing it on hard-pressed areas such as the arts and increasing it on financial services and private education.’
Consequential change:
On p. 45, increase the Business Taxes figure by £3bn per year and adjust the total accordingly.
3) Carbon Tax
SOC Note: This section of the motion would fall away if section 9 of motion C03 is passed, since it asks for the same thing.
Correction to basis of figures being carbon dioxide or equivalent, not carbon.
p. 21 of GEM2024 currently reads:
‘£120 per tonne, rising to a maximum of £500 per tonne of carbon emitted within ten years’
Conference approves the following changes:
After ‘£120 per tonne’ add ‘of carbon dioxide equivalent’
After ‘£500 per tonne’ delete ‘of carbon’
Such that it reads:
‘£120 per tonne of carbon dioxide equivalent (CO2e), rising to a maximum of £500 per tonne emitted within ten years’
4) Public Sector Debt
To shift the language around public finance.
p. 22 of GEM2024 currently reads:
Title: ‘Public Sector Debt’
Final paragraph: ‘Greens will not allow our country to be held back by fiscal rules that don’t serve us all – we’re prepared to tax wealth and carbon emissions and prepared to borrow to invest in a fairer future.’
Conference approves the following changes:
In the title, delete ‘Debt’
Insert ‘Investment’
In the final paragraph, after ‘all – ‘, delete ‘we’re prepared to tax wealth and carbon emissions and prepared to borrow to invest in a fairer future.’
Insert ‘Greens will invest in a fairer future and are prepared to tax wealth and carbon emissions.’
Such that it reads:
‘Public Sector Investment’
‘Greens will not allow our country to be held back by fiscal rules that don’t serve us all – Greens will invest in a fairer future and are prepared to tax wealth and carbon emissions.’
5) Comment in table of numbers
Further shifting of language to avoid negative connotations in the public understanding of deficit and debt.
p. 45 of GEM2024 currently reads:
At the bottom of the table: ‘Deficit – funded by additional debt’
Delete: ‘Deficit – funded by additional debt’
Insert: ‘Additional public investment required’
The background paper is available here:
Last updated on 2024-11-02 at 12:44