Are the banks and institutions that look after our money behaving in an ethical and responsible way, helping local businesses and investing in communities? Or are they shoring up dirty industries who have responsibilities only to themselves and their shareholders?
What can ordinary people do to avoid supporting unethical banks?
These are among the questions that will be explored at Stroud District Green Party’s next online Cloud Café debate, on Wednesday January 11 from 7.30pm to 9pm.
Elizabeth Lee, organiser of the event, said: “In these days of austerity, the spiralling cost of food and energy and the freeze on pay and benefits, almost all of us are concerned about money. Worrying whether we will have enough to keep us warm and fed, pay the rent or mortgage or even put money aside for a rainy day can affect both our physical and mental health.
“It’s worse for poor people as they have to pay a ‘poverty premium’ – using pre-paid electricity meters, not able to use direct debit discounts, unable to afford bulk buying and forced to use high interest, unregulated or even illegal lending.”
The speakers:
Tom Levitt is consultant at Sector 4 Focus and co-founder of responsible lending company Fair for You, which offers regulated loans (typically of £400), enabling people in poverty to purchase essential household items without spiralling into debt with exploitative loan companies.
He will also describe a new partnership with Iceland supermarkets that makes available interest-free loans of £75 to buy groceries, helping to improve borrowers’ credit scores while avoiding food poverty.
Gary Luff is founder of a Community Interest Company called Sustainably Enough. He had a negative net wealth when he was 31, yet at 47 he was able to retire. He now helps people to optimise their spending, build financial resilience, invest efficiently and give effectively.
Gary says: “Levels of financial literacy are shockingly low and many people do not know how their spending interacts with their happiness. Most people do not have access to financial advice and much financial advice benefits the advisor more than the client.”
Following the presentations there will be an opportunity for audience questions and debate.
Everyone is welcome to join this free online discussion and debate. Register here to attend or to receive a recording to watch another time.
PICTURE CREDIT:
Photo by micheile dot com on Unsplash