Debt

Guest post by Jessica Radford, used to be campaigns and policy intern

Thousands have taken to the streets in protest at public sector pension changes. Demonstrations are taking place across the UK, including Cardiff, Birmingham, Leeds, Exeter, York, Gateshead, Aberdeen and London. WDM joined the march in London alongside the Jubilee Debt Campaign and we were happy to see our supporters and allies in the crowd. People of all ages were present, ranging from primary, secondary and college students to podiatrists and midwives and, of course, teachers.

Cameron has described the walkouts as a ‘damp squib’ but with 300 000 public sector workers in Scotland on strike, 170 000 workers in Wales and an estimated 2 million altogether across the UK this shows the voice of the people coming out against the government and its policies which cannot be ignored. It shows that an economy that works to profit the elite minority can no longer be sustained. The economic crisis is being used as an excuse to put even more power in the hands of big corporations, forgetting about the hard workers in the public sector. Those who have already suffered because of the crisis are the ones who are now forced to pick up the bill through their pensions; people forced to work for longer...

Introduction

The Scottish Climate Change Act came into being in 2009, and since then the Scottish Government has done a great deal to promote its world-leading legislation, which includes a 42% reduction in Scotland’s own emissions by 2020, and 80% by 2050. More recently, the Scottish Government has produced an action plan called the ‘Report on Proposals and Policies’ which sets out which policies will be needed for Scotland to be able to achieve these targets.

This next Scottish Budget must reflect Scotland’s climate change ambitions. The Scottish Government is currently putting together the 2012-13 budget as well as a four-year spending review. The Scottish Parliament will then scrutinise the Budget and it will be agreed in February 2012. But this autumn is the key time to influence it, while it’s still in its early stages.

Why it matters

Recently, in its advice to Scottish Ministers, the UK Climate Change Committee stated that: ‘Scottish emissions reduction targets can be met at manageable economic cost... and should be accepted given the costs and consequences of not acting’.

Action in Scotland to reduce our emissions is a vital part of a just response to climate change. Whilst rich countries are responsible for most of the emissions...

Emma Rubach. This article originally appeared in The Big Issue

There’s been a lot in the press recently about the fact Britain’s aid budget is one of the few areas of public spending not facing cuts. Despite detractors wondering how we can spend money overseas when we don’t seem to have much to spend at home, the government has been vocally proud of its commitment to helping poor countries out of poverty and to reaching the Millennium Development Goals.
 

Unfortunately, a recent report by campaign group World Development Movement (WDM) suggests that while we’re giving with one hand, we could be taking away with the other, thanks to the decision to offer climate adaption loans to poor countries through the World Bank. Much like the payday loan companies who target vulnerable people in need, desperate countries on the frontline of climate change will be offered cash to help adapt to the problems climate shifts create. The World Bank appears to be offering a kindly leg-up in a time of need – but as we cash strapped folk well know, all loans have to someday be paid back.
 

As WDM points out, it’s unfair to expect developing countries whose emissions could fit into a thimble to pay for the...

After Tuesday’s earthquake, which has left up to 50,000 people dead, WDM has joined the Jubilee Debt Campaign in calling for an urgent cancellation of all of Haiti's remaining debt.

"The poverty that already exists in Haiti will be even more devastating as a result of this emergency and it clearly requires high levels of aid to combat it. This should also come with wholesale debt cancellation and the need to need to ensure that aid is given in the form of genuine grants as opposed to traditional IMF-backed loans, which would undoubtedly worsen an already dire situation", said Julian Oram, Head of Policy at WDM.

We welcome the cancellation of two thirds ($1.2 billion) of Haiti’s debt in 2009, but condemn the fact that the country still has $641 million in debt on its books and in 2010 is projected to pay around $10million to International Financial Institutions.

We also think that the International Monetary Fund’s proposed offer of $100 million in new lending to Haiti is completely inappropriate. Even though lent at very concessional rates of interest, the proposal contradicts the IMF’s own policy recommendations that Haiti should not borrow more money because, even after debt cancellation, its potential for debt distress remains high.
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