The Green party is basing its European election campaign on the proposal of a fiscal stimulus plan entitled the “Green New Deal”. Greens will push for “massive” investment in order to tackle the environmental, economic and social problems that the world is facing. They propose the injection of around £45 billion to the UK economy to fund Green initiatives such as the building of wind turbines and the provision of free house insulation.
The party welcomed the €200 EU recovery proposal of 2008 but criticised it for lacking environmental focus. If more Green MEPs are elected then we can expect increased support for similar proposals with the investment being more directly channelled into environmental projects. The party will call for cooperation between the EU and the Bank of England to keep interest rates low while investment projects are taking place.
The party is strongly opposed to the building of Nuclear power plants because of concerns about their safety and cost. They have long been committed to a ban on GM foods in the UK and think that the best way to bring about a UK ban is to propose a ban through the EU.
Green MEPs accuse other parties of failing to realise the fundamental links between the environment and the economy by only offering medium term solutions to the global financial crisis.
They claim, along with writers of the Stern report, that large-scale investment in the short term will be far less costly than gradual action in the long term.