To win next election Labour needs to promote the ‘People’s QE money tree’ and intergenerational solidarity

Guardian Letters

Tuesday 13 June 2017

• Sorry Brenda from Bristol, but another election looms, and this time a progressive alliance of Labour, the Lib Dems, the SNP, Plaid and the Greens need to get their policy ducks in a row to win it. Firstly, these must provide hope, not just for the young, but for every community in the country. To do this Jeremy Corbyn must revisit and vigorously shake his people’s QE “money tree”. This could pay for real economic activity on the ground via decentralised infrastructure projects to make the nation’s 30 million buildings energy efficient, ensure a shift to localised renewable energy, and the building of local transport systems.

Secondly, the divide between young and old must be bridged by policies fostering intergenerational solidarity. Older people with significant saving should be offered “housing bonds”, paying, say, 3% interest to help fund a massive council and affordable homes programme. Tuition fees would be scrapped, but so too must be the threat of having to lose a home to pay for care, or having to scrabble for means-tested benefits such as heating allowances. Financed by progressive and fairer wealth and income taxes, and a clampdown on tax dodging, this should have an election-winning appeal to the majority of grandparents, parents and their young relatives.
Colin Hines
East Twickenham, Middlesex