Duncan Hames calls for a more sustainable economy

5.02.00pm BST (GMT +0100) Wed 20th Sep 2006

"We have a moral responsibility to act for the greater good in the market" says Duncan Hames

Chippenham parliamentary candidate, Cllr Duncan Hames, was invited to speak from the platform at this week's Liberal Democrat conference. He took the opportunity to make the case for a more sustainable economy.

Addressing the policy paper: 'Trust in People: Make Britain Free, Fair and Green', Duncan said:

"We aim to ensure that sustainable development lies at the heart of economic policy. It is sustainable economic prosperity which comes first in achieving all our goals."

"If you take a look at our economy, there is plenty of economic activity which certainly isn't sustainable. Gordon Brown's economic growth has only been afforded by mortgaging our future: we have a consumer driven economy fuelled by personal debt. Overall, people now pay out nearly £1 in every £5 of take home pay just servicing debt. As consumers, we need to review our own consumption choices to reclaim our future."

"Businesses also have a role in redressing unsustainable consumption: so much of the billions of pounds spent on advertising is not to compete with substitute products but is designed to stimulate demand. Not just meeting our needs, but artificially creating need to generate sales growth. If we are to live within environmental limits, can we consider this behaviour an economic good?"

"The market is just a mechanism; it doesn't work exclusively for good, or for bad. Just because markets are amoral, doesn't mean that players in those markets - be they consumers, producers, or investors, do not have a moral responsibility to act for the greater good in those markets. What greater lever is available to people than through their investments in their pension funds? Higher ethical and sustainability standards for investments by public and private sector pension schemes could apply a reforming incentive for business that is too good to refuse. Otherwise, is it not completely self-defeating for the investments for our retirement to actually be undermining that future's viability?"

"As we develop these policy themes around sustainable prosperity, we should build a coherent vision of sustainable capitalism and share it with people."