Young Fabians Networks go live…

On Thursday last week, we launched our Fabians ‘Technology and Society’ and ‘Future of Finance’ Networks at a reception in the heart of the City of London.

We were delighted that so many young financiers, scientists and academics – many of whom had not been involved in the work of the Young Fabians before – packed the room to hear our guest speakers spell out their visions for the potential role the Networks could play.

Lord Drayson, Minister for Science and Innovation, spoke about the power of politics and the opportunity for young people with expertise and enthusiasm to make a difference in politics. On science, technology and finance, Lord Drayson talked about the pride he had in the UK’s leadership role and called on young people in those sectors to put their expertise forward to help government continue to support jobs and investment for the future.

Rachel Rachel Reeves, PPC for Leeds West and former Bank of England Economist, called on the Networks to bring fresh energy to debates around financial transaction taxes, to principled banking and to end Casino banking. Huw Evans, ABI Director of Communications, talked about the value of a more sophisticated understanding of financial services on the left and set out the role of insurance in the UK economy. He saw the Networks helping in the effort to respond positively and effectively to public concerns about the financial industry, with ideas and actions.

Our aim in hosting the Networks is to provide a forum for socially minded professionals to meet and discuss ideas and to bring sector expertise to progressive debates. Our speakers underlined that there was great value in hosting the Network and that now was the time when ideas and insights would have real influence.

But the hard work starts now. People have noticed the Networks exist and expectations are high. Now we need to see what they can deliver. If you’re interested in joining either the Future of Finance or the Technology and Society Network – it’s simple – just visit the website and join up. You don’t have to be a Young Fabian member to take part in the Networks.  If you want to take a more active role, come to the steering group meetings and put your ideas for the Network into action.

To see a taster of the discussion the Networks are hosting, see Chris Calland’s response to the Chancellor’s debate on the Future of Finance Network or see what Chris Jones had to say about the launch event.

Thanks for all the hard work that went into the launch event and I look forward to seeing what you all have to say on the Networks.

Nick Maxwell

Fabianism in bed with offshore financial centres?

Has the Young Fabians lost its marbles? Their new ‘Networks’ projects launch event is sponsored by none other than Jersey Finance, a representative body for financial services in the island of Jersey. An outrage? An abandonment of the socialist fraternity on the very day that the Treasury is briefing that the Chancellor will use the Budget to double the maximum penalty for offshore tax evaders?

Far from it. On Thursday, in the heart of the City of London, the Young Fabians are launching two new innovative projects – the ‘Future of Finance’ and the ‘Technology and Society’ Networks. These networks, collectively, aim to bring young people and young leaders from the worlds of finance, technology, science and engineering together with progressive politics in order to help bring insight, imagination and energy to the broader progressive fight and to respond to our shared economic, social and environmental challenges.

These networks, in the true spirit of Fabianism, are open access and inclusive. They are founded on the belief that there are swathes of socially minded people working at the front edge of finance, research, academia, science and technology who have so much to offer the progressive movement, but perhaps have struggled to find a home in the Left. The networks aim to provide a forum that allows people to combine professional expertise with a social conscience, and – in the process – help the progressive movement become more sophisticated, more aware and more responsive to the realities of the marketplace and the broader environment.

Our inclusivity is our strength. Greater nuanced understanding of a complicated world and dialogue with all actors maybe held in horror and disgust by the revolutionaries, but they are the hallmarks of Fabian gradualism and the foundation of effective real reform towards social and progressive ends.

That’s why we’re delighted that Jersey Finance, alongside the TUC and Prospect Magazine, are supporting the launch of the Young Fabian Networks and that’s we are so keen to embrace those who support our ends, regardless of their place of work. Both Young Fabians members and progressives who aren’t members are very welcome at the launch event and in the Networks themselves. If you’re interested, please click through and RSVP.

GUEST POST: Say no to Heathrow

Kieran Roberts is a Young Fabian member and Co-Campaigns Officer for Young Labour Northwest. Here he argues that the proposed expansion of Heathrow should be opposed.

On balance, I’m firmly supportive of Labour. It’s the party that have made the most progress environmentally and due to Labour, Britain led in aiming for a fair deal at Copenhagen. The policy on Heathrow however makes me ashamed.

One of the obvious arguments against Heathrow is the gridlock it would bring to reaching emission targets. Although air travel pollution currently accounts for a fraction of what other forms of transport do, particularly the car, it is far more polluting in itself. Mile for mile, planes emit over 6 times more carbon than cars and by 2050, if expansion continues as predicted, air travel will account for over 50% of Britain’s emissions.

This is even more damning when we consider Bruce Duguid, head of investor engagement at the Carbon Trust’s remarks:

“The growth of aviation might have to be stopped once it reaches a 25% share of the UK carbon market because there will not be enough carbon permits in the trading scheme for other industries.”

Labour have pledged themselves to reducing emissions and ensuring aviation’s carbon dioxide emissions are 2005 levels by 2050. If these are serious targets, it renders expanding Heathrow devoid of any logic and hollows out the principal behind building a greener Britain.

The government argues that Heathrow is crucial to the economy’s competitiveness. Airport expansion is vital for the long term health of the economy and if Heathrow is crowded, business leaders will move elsewhere to countries with larger, less crowded airports. Really? Regarding the latter point, a poll by Continental research revealed only 4% of ‘business leaders’ thought Heathrow expansion would benefit their business.

The argument of air travel’s contribution to the economy is also flawed. Heathrow expansion it is estimated would bring £850 million to the economy by 2020. I don’t dispute the benefits of that. However when we look at this nationally, all regions other than London run a great financial deficit from aviation. With the predicted swelling of airports, the total cost of aviation by 2020 will be a loss of £30,500 million.

The case for long term economic growth looks increasingly insubstantial. As far as Labour is concerned, the problem doesn’t stop there. Labour is the only one of the three major parties to support Heathrow expansion. I can’t vouch for the Conservatives stance tomorrow but, for now, that’s how it stands.

The justified opposition to the expansion in west London where Labour currently holds 44 seats could cause a major problem. Some of the west London Labour seats have majorities of just 484 and 184 and a poll by Greenpeace shows a quarter of voters in the area less likely to vote Labour due to Heathrow expansion may spell defeat in west London.

All these points I think show Heathrow expansion to be a costly mistake but there is one element, above all, that proves Heathrow should not have a third terminal. The village of Sipson will be demolished. Home to thousands, communities, schools and livelihoods will be literally destroyed to make way for big business and bigger pollution.

It’s not right, it’s not fair, it’s not Labour. Say no to Heathrow.