An economy for everyone is not a fanciful dream. It is simply an ideological choice, which is informed by the factual reality that Australia is an open and democratic society. For this reason, the Representus movement affirms that our elected representatives have an ethical responsibility to make decisions that are informed by what is in the best interests of ALL citizens of our nation. That they choose to ignore this responsibility is why the owners of our Common Wealth - every Australian - are slaves to our economy and predatory billionaires - and business's - like banks and large multi-national corporations - rather than the economy being servants to all Australians.
The RepresentUs - Australia - Movement supports the following strategies to address the failure of successive governments to be prudent and wise stewards of our Common Wealth:
No targets will be set for the government’s fiscal balance, because the focus should be on full employment, price stability, economic, social and environmental sustainability - and national well-being.
We will support wise and prudent stewards of our Common Wealth who should be rightly concerned with maintaining as low a spending gap in our Common Wealth fiscal balance, however, will NEVER be obsessed with having a surplus at the expense of the previously mentioned socio - economic and environmental elements of our Common Wealth. The resulting fiscal balance is what it is and achieving a surplus just for the sake of it should not be a measure of good economic management.
No government debt securities will be issued. Why would this be needed in a central government that issues its own currency and therefore can fund any expenditure it makes.
The Reserve Bank support rate (the interest rate paid on excess exchange settlement funds) will be set at the target overnight cash interest rate.
The assets owned by the sovereign fund (Future Fund) will be sold down in a controlled fashion unless government ownership or partial ownership is required for the greater public benefit.
Support for the IMF, OECD and World Bank will be withdrawn and Australia will contribute to creating more suitable international economic institutions that reflect an equitable and just international financial system.
Tax policy will be consistent with a sustainable public policy road map and actively support it as is appropriate in an open and democratic society.
Regulatory bodies, such as ASIC & APRA will be reviewed and reformed as required to ensure they are effective independent regulators who protect our Common Wealth not vested interests.
A national savings fund guaranteed by the government will be set up as an alternative to superannuation funds, which will guarantee all Australians can live in retirement with dignity.
Speculative behaviour in the financial markets that provides no real benefits to the population will be eliminated.
The ability of banks to sell loans on to others will be eliminated.
A public bank will be established that, among other things, will:
Provide zero interest home loans to break intergenerational poverty.
Offer accounts for superannuation funds that provide stable interest returns as an alternative to current superannuation arrangements.
Provide loans for business, energy, agricultural & environmental investments that benefit the community when commercial loans are not available.
Provide seed capital for start up incubators that demonstrate a real potential for a benefit to the community, our nation and our economy.