Anti Austerity: Time for the Job Creators Allowance

Westminster Confidential

Muhammad_Yunus_-_World_Economic_Forum_Annual_Meeting_2012 (1)This month a radical thinker passed through Westminster and presented an idea that politicians tackling Britain’s economic crisis should sit up and take notice.

Nobel Peace prizewinner Muhammad Yunus was addressing a Commonwealth Parliamentary Association conference on growth and development en route from Bangla Desh to Mexico City. The conference attracted people from as far apart as Somalia and Paraguay and Haiti and Timor-Leste.

Yunus is the man who created an anti-bank bank called the Grameen Bank in Bangla Desh which broke every rule of traditional banking. As he put it : ” I went and talked to the banks and did precisely the opposite of everything they told me.”

His bank was only interested in lending money to the poorest in Bangla Desh – those with nothing so they could start tiny micro businesses. His ideas have now been taken up in developed economies notable the United States in…

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