This policy brief can be used by PSI trade unions to build an understanding of what public banks are, how they operate (or should operate), where they can be found in their local communities, what good governance could look like (including workers and community participation), and how they can be mobilised in the public interest. For instance, public banks can be mandated to strengthen quality local public service provision, to finance local infrastructure, to generate local economic development and to boost quality employment in the community. However, as the field of public banks has been neglected for decades because of the dominant neo-liberal approach to academic research in finance and banking studies, many questions remain unanswered. Regardless, this policy brief provides an excellent, simple and clear starting point for any public service union to become acquainted with the issue, to build alliances and campaigns around it with other pro-public and civil society organisations, and to engage or negotiate with their LRG employers over reclaiming public banks and their resources in the public interest.

The paper was released on 20 April during the first 2023 Session of PSI Global LRG Workers’ Network. PSI is organising a live conversation with Thomas Marois about the  potential of public banks to fund local quality public services that will take place on

14 September 2023 - 9.30-11am EST //11.30-13am GMT-3// 3.30-5pm CEST
(find your local time here).  

Interpretation will be available in English, French and Spanish.