Banc Cambria

I spent the day (9th Oct) at the Access to Cash roundtable run by the Payment Systems Regulator (PSR), chaired by Chris Hemsley, their MD

Fascinating stuff:-

  • The PSR has a Joint Authorities Access to Cash Group (JAACS Group) which meets regularly and will finally report in autumn 2010 – apparently lots happening in Govt slowing them down!
  • The Post Office have re-contracted with banks to provide a payments in/out service, and 28 have signed up, but not Barclays, so their customers won’t be able to use the service after Jan 2020. The new contracts are more expensive, and the PO say they’ll be passing more on to Postmasters/Mistresses.
  • The Post Office pays out £1billion in benefits to the unbanked each bank via their card account system
  • The Post Office has had an 8% increase in cash withdrawals over the last year, and a 40% increase in cash paid in, mostly from small retail businesses
  • 10 years ago the Post Office handled cash flowing from the Bank of England out to its customers. Now the flow is reversed, as it takes in more cash, and the net transfer is back to the BoE
  • John Howells, CEO, says Link has given a policy promise to Govt that 95% of the population will have an ATM within 1 mile of their home, and that any high street with more than 5 shops will have either an ATM or a Post Office within 1 kilometre
  • Link say cash withdrawals from ATMs are dropping 10% each year
  • Of the 11,500 Post Offices in the UK, only 4,000 are open on Sundays, so no cash available from the other 7,500
  • Battle (of Hastings) has 6 ATMs, all indoors, and not available on Sundays, tourists can’t get any cash, so they spend less
  • The Shetlands have 30,000 people, but the only free to use ATM is in Lerwick
  • Some of the smaller “challenger banks” charge for ATM withdrawals even from “free” ATMs. Two million accounts operate this way
  • “Cash-back” is only available on a card if you also purchase something, so a problem for the less well-off
  • PSR state 60% of transactions were cash 10 years ago, now 30%. Not clear if this number of transactions or amount of money
  • PSR adamant consumers should have choice of using cash, but accepting cash is not a legal requirement. I suspect they would like this to be a requirement, but they didn’t actually say that
  • Which? research to be published soon, shows 19% of people feel they need access to cash all the time, and a further 19% need it from time to time
  • 18-24 year-olds prefer cash as a means to help them budget more easily

Banc Cambria

The Economy, Infrastructure and Skills Committee met today, October 3rd and interviewed the Chair and officers from the Development Bank of Wales.

See what they said about Banc Cambria

 

Community Wealth Building – French style

In the small working class market town of Questembert in southern Britanny, the local school is getting a 4,000 sq ft extension containing new laboratories and a covered courtyard.

The official Planning Permission notice required by French law

In most parts of the UK, a contract like this would have been given to a large construction company, almost certainly out of the area because no local firm could cope. However, that is not the way here, or indeed in most of France. Failure to get contracts placed locally would be end for the  local mayor at the next election. Indeed if the school bread contract doesn’t go to the local baker, that would probably be enough to finish their political career, never mind a contact like this which, based on standard prices, must be around €4million. Continue reading

A new Co-operative Development Programme

As part of the policy review being undertaken jointly by the Co-op Party and the Labour Party to look at how to double the number of co-ops in the first term of an incoming Labour Government I’ve put together some notes on how it was in the 70s and 80s, when we had a network of up to 140 local Co-operative Development Associations and a national Co-operative Development Agency as part of Government.

Downloadable here: The national CDA

This policy review started with the nef report, Co-operatives Unleashed and has now produced an internal discussion paper for the Shadow Chancellor.

As part of the Implementation Group I’ve been at the heart of the debate, which is now continuing outside this group on Platform 6 and on Loomio at Proposal for a National Co-operative Development programme 

Global Labour University

The Global Labour University (GLU) is a network of trade unions, universities, the Friedrich-Ebert-Stiftung and the ILO (International Labour Organisation) to deliver high-level qualification programmes. It offers Masters Courses in five different countries on trade unions, sustainable development, social justice, international labour standards, multinational companies, economic policies and global institutions and promotes research cooperation on global labour issues. Continue reading

Executive Pay – Social Europe Blog

My latest blog on executive pay levels has just been posted on Social Europe.

https://www.socialeurope.eu/chief-executives-pay

On salaries and greed?

As Oxfam reports that the top 1% of the world’s population now ownmore than the other 99%,perhaps it’s time to think about how we remunerate people, and in particular those at the top of the tree, some of which receive eyewatering salaries.

We have to accept this is a big task, but we could start with the values driven businesses, employee ownerships, co-ops and mutuals, and not-for-profits, and follow on with those supplying government and the public sector. Continue reading

On salaries and greed?

Now we have a new First Minister, who’s pledged to reform the Welsh economy over the next few years, perhaps it’s time to think about how we remunerate people in Wales, and in particular those at the top of the tree, some of which receive eyewatering salaries. We have to accept this is a big task, but we could start with the values driven businesses, employee ownerships, co-ops and mutuals, and not-for-profits, and follow on with those supplying government and the public sector.

There are a number of reasons for the rush by executives to the top of the salary tree, some of which are quite complex, but whatever the motivation, it is creating an unhealthy society. My personal view is that one of the main drivers is a search for recognition. Whereas in the past individuals became recognised for their status in the community rather than in cash, and for their philanthropy such as Carnegie building libraries, or business people supporting the local football team, now people seek recognition through obvious wealth. Continue reading

Open Co-ops

The Open 2018 Conference took place at the Conway Hall on July 26th and 27th.

I was invited to speak at a workshop session on “Solving the crisis of the Gig Economy” together with my colleague Lieza Dessain from SMart in Belgium and Danny Spitzberg from CoLab in the States. The session was facilitated by Alice Casey from NEF.

The videos of the open space sessions at the conference are now available at https://open.coop/2018/08/26/open-2018-videos-open-space-sessions/ or you can watch my contribution below

 

Social & Solidarity Economy Week

In schools, colleges and lycées throughout France, from March 26th to 31st, Social and Solidarity Economy at School Week raises awareness of collective entrepreneurship among more than 4,000 students.

Formerly “Cooperation Week at School”, the “SSE Week at School” is now back in schools, meeting students for a second edition. The aim of this operation is to promote the social and solidarity economy and raise awareness among young people of collective entrepreneurship.

Supported by the Office central de la coopération à l’école (OCCE), Coop FR and ESPER (l’Economie sociale partenaire de l’école de la République), the action takes place everywhere in France, from 26 to 31 March.
More than 170 initiatives are registered on the dedicated website www.semaineessecole.coop. Once registered, the shares are valued thanks to the hashtag #SESSE2018 on Twitter accompanied by a photo and a comment. Find all the actions that bring SSE to life at the School on the interactive map. Continue reading