Democratising Finance: Changing the financial landscape through local, social and peer-to-peer
Partnership opportunity for forthcoming project
The global financial crisis, rise of the international Occupy
movement, and most recently the LIBOR scandal, have ensured that issues
of trust, accessibility and accountability in financial institutions are
firmly embedded in public consciousness.
How money is created,
invested and managed in our society is at the forefront of public debate
and policy rhetoric. But much discussion regarding ringfencing,
regulation and stewardship has been reactive, focusing on fixing
institutions which may no longer be fit-for-purpose. There has been
little holistic policy analysis of the viable and sustainable models
which could be developed to help make our economy and society more
resilient to such shocks in the future.
Alongside the demise of
the City, the UK is at the forefront of sustainable financial
innovation, and the 'quiet revolution' of co-operative models of
economic and financial collaboration. Now is the time to realise the
latent economic potential that can be harnessed when citizens are more
participative and engaged as financial actors. We have seen recent
significant growth in the use of community shares and bonds, alternative
financial models of social investment and peer-to-peer lending.
objective of ResPublica's new project is to capture the range of financial tools
and intermediaries that could truly revolutionise the way SMEs, social
businesses and renewable energy markets raise capital. Peer-to-peer
networks, new models of infrastructure finance and resurgent traditional
models such as co-operative finance can provide long term, engaged
capital that can deliver real benefits to address community needs and
provide wider benefits to our economy.
More specifically, the
project will catalogue the extent to which the state is using a vast
array of public policy interventions to underpin conventional
institutional finance; demonstrate the potential for alternative,
independent and unsubsidised models of local, peer-to-peer and social
finance; and charter the next steps for building the new functionalities
and intermediaries which will make up the new institutions in the
The project will be a flagship output of our New Economies; Innovative Markets workstream, and is now open to
external engagement from third party organisations. For the next stage,
ResPublica would like to establish a consortium of partners from the
public, private and third sectors, who will feed in to our further
research and debate in this area and benefit from co-branding on
publications and events.
If you would like further information, or to discuss partnering on this venture, please contact firstname.lastname@example.org.