Finance for the Future -

You can find out more about us by following these links:\n\n[[Finance for the Future LLP]]\n[[What we do]]\n[[Why we do our work]]\n[[How we do it]]\n[[What is the Green New Deal?]]\n[[Richard Murphy]]\n[[Colin Hines]]\n[[Publications]]\n[[Contact]]

Colin Hines has worked in the environmental movement for over 30 years on the issues of population, food, new technology and unemployment, nuclear proliferation. He was the Co-ordinator of Greenpeace International's Economics Unit having worked for the organisation for 10 years.\n\n Most recently he has focussed on the adverse environmental and social effects of international trade and the need to solve these problems by emphasising the rebuilding and rediversification of local economies – a process termed localization.\n\nHe helped form Localise West Midlands, an NGO which is attempting to put localisation into practise on the ground, with particular emphasis on Local Authority bonds as a local funding source.\n\nHe is an advisor to the Green Member of European Parliament Dr Caroline Lucas and author of the book ‘Localization- A Global Manifesto’ (Earthscan). He is an Associate of the International Forum on Globalisation, a San Francisco based alliance of activists, academics and economists committed to challenging the adverse effects of globalisation and free trade and in the process to develop alternatives.\n\nHis research has covered issues as diverse as the impact of peak oil on British agriculture, real energy security for the UK, trade patterns that can benefit the developing world, the effect of China on Europe’s hi-tech future and the case for pension funds to invest in local authority bonds to reduce fossil fuel use.\n

Finance for the Future LLP can be contacted via:\n\nRichard Murphy\nThe Old Orchard\nBexwell Road\nDownham Market\nNorfolk PE 38 9LJ\nUnited Kingdom\n\n+44 (0) 1366 383500\n+44 (0) 777 552 1797\nrm@financeforthefuture.com\n\nColin Hines\n11 Park House Gardens\nEast Twickenham\nMiddlesex TW 1 2DF\nUnited Kingdom\n\n+44 (0) 208 892 5051\n+44 (0) 773 816 4304\n

[[Finance for the Future LLP]]\n[[What is the Green New Deal?]]\n[[About us]]\n[[Contact]]

Finance for the Future LLP is limited liability partnership number [[OC329502]].\n\nIt is owned and run by [[Richard Murphy]] and [[Colin Hines]]

The work of Finance for the Future LLP is directed by [[Richard Murphy]] and [[Colin Hines]]. When appropriate other consultants with complementary expertise is drawn upon either as team members or to act as members of supervisory boards for particular projects.

[[About us]]\n[[Contact]]\n[[This site]]

This is the LLP number of Finance for the Future LLP. Information with regard to the LLP is filed under that number by the UK Registrar of Companies.

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The following publications give some indication of the work that the directors of [[Finance for the Future LLP]] have undertaken in the area in which it works:\n\n- [[People's Pensions, the New Economics Foundation, 2003|http://neweconomics.org/gen/uploads/5tszyf45onhtul304dxxkfzk12082003133509.pdf]]\n\n- [[Paying for Local Investment: New Finance Mechanisms for Local Government|http://www.taxresearch.org.uk/documents/NEF-PolicyExchange-CapitalFinancing.pdf]]

Richard Murphy is a director of [[Tax Research LLP|http://www.taxresearch.org.uk]] as well as of [[Finance for the Future LLP]].. \n\nRichard Murphy is a chartered accountant. He studied economics at Southampton University and then trained with Peat Marwick Mitchell & Co (now KPMG) in London, qualifying in 1982. He set up his own firm of chartered accountants in 1985, which partnership grew to have 800 clients when he retired as senior partner in 2000. In addition Richard established or has been chairman, chief executive or finance director of ten SMEs since 1985, some venture capital financed. \n\nSince 2002 Richard has worked on taxation and accounting policy issues. His clients include major NGOs, government agencies, think tanks, campaign organisations, unions and overseas governments. His research has covered issues as diverse as the impact of international financial reporting standards on development; tax and corporate responsibility; the impact of the offshore economy on development and why flat taxes are not simple. \n\nRichard has written widely on taxation, accounting and corporate responsibility issues for newspapers and professional and academic journals and contributes to BBC and Channel 4 television and radio documentaries on a regular basis.\n\nRichard is a research fellow at the Tax Research Institute, Nottingham University Business School and a visiting fellow at the Centre for Global Political Economy at the University of Sussex.

Finance for the Future

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The ‘Green New Deal’ is a plan being promoted by [[Finance for the Future LLP]]. \n\nIt will provide a safe haven for savings, be they in banks or pension funds, and will use those funds to kick-start a massive public and private works programme to cut energy use. \n\nThe Green New Deal will require legislation and government encouragement of the use of such funding. But the provision of such backing makes sense: it will make a significant contribution to tackling climate change and it will generate the jobs and economic activity that will help counter the growing effect of the global credit crunch. \n\nWhen the world faced a depression in the 1930’s it was Roosevelt's New Deal that contributed to getting people back to work by building the infrastructure the US required. Today what is required is a similar approach, but one that addresses climate change.\n\nThe core will be a programme to make the nation’s buildings energy efficient. This will require both high standards of insulation and extensive use of combined heat and power programmes. It will also encourage the use of renewables such as solar PV and wind to meet a new national goal of ‘every building a power station’.\n\nLocal authority bonds could be the vehicle to raise the funds for this programme. In the US there is a trillion dollar Municipal Bond market. In the UK it is non-existent, but this source of funding and local democracy could be promoted entirely effectively if the returns on at least part of any investment in such bonds were tax free and if a central government guarantee against loss were given on up to £100,000 of funds invested, of the type granted recently to Northern Rock investors. Such a Green New Deal could set a useful and groundbreaking international example of how to save the economy, whilst saving the planet.\n\nFinance for the Future plans to carry out research and lobbying and to help develop pilot studies to show the feasibility of this Green New Deal approach.

[[Finance for the Future LLP]] promotes the use of local authority bonds as a means of financing infrastructure development in the UK. \n\nWe are particularly interested in low carbon impact development, such as Combined Heat and Power schemes, but the arrangements we promote have wide potential application.

We believe that there is a need for an alternative to PFI (The Private Finance Initiative) as a way of financing infrastructure development in the UK.\n\nWe believe in local government and the need for it to manage resources on behalf of the communities it represents.\n\nWe believe that people want investment options that they can understand if the pension savings problem is to be solved in the UK: options that meet their needs both now and during the period in which they might be in retirement and which therefore pay returns at the time that they need them.\n\nWe believe that using local authority bonds to fund infrastructure development is vital if the risk transfer in the construction of those projects is to be successfully managed independently of their financing, which is essential if both construction and finance are to be managed properly. In PFI schemes the two are linked, and this is their Achilles heel. \n\nWe believe that creating the right governance structures is essential for local infrastructure projects if they are to provide the benefits both those who fund them and the communities for whom they are built deserve. Placing this responsibility on the private sector does not work. Building financial partnerships between communities and their local authorities through the issue of bonds to which the public, pension funds and other investors can subscribe does result in that responsibility being acknowledged, and must help its fulfillment as a result. \n