iniref | 04.05.2010 10:10 | South Coast
We had no choice, nobody called a referendum or made it part of their election manifesto. The City decided. And the parties all nodded their assent.
All our economic and financial woes follow from that decision, as does the widening wealth gap, the pension deficit, the triumph of the hedge fund managers and on and on." ( Memessime 3 May 2010)
Comment by INIREF
We could not call a referendum because we, as a people and electorate, have no right to do so. A recent example of a citizens' initiative in the realm of "big finance" is the Abzocker Initiative in Switzerland. Abzocker means roughly "Fat Cat". Bankers and managers who pay themselves excessively fall under this category. The Abzocker Initiative proposes that a national referendum be held to bring this sort of greed under control.
With the right to citizen initiated referendum in Britain then at least some warning shots could have been fired across the bows of speculators and lax regulators.
We need to introduce elements of direct democracy.
Electoral reform seems a worthy idea but we should not forget that only INdirect democracy would be improved. We are left with the "representative rule" allowing us a voice, choosing others to govern for us, once every five or so years.
It would be better for our democracy to introduce elements of citizen-led, direct democracy, which enable the electorate to introduce proposals and veto unwanted policy during the life of a parliament.
Arguments, free materials http://www.iniref.org/index.enter.html
Election strategy for more democracy http://www.iniref.org/
Help to spread these ideas and build the movement.