Your MP needs to know this

Stagnating wages, a house price bubble, low investment – Mark Carney and the Bank of England are running out of excuses. Since the 2008 crash his policies have made the rich richer and done nothing for ordinary people. [1]

Back at the start of the year, we exposed this. We put our evidence of just how badly his policies are failing society under the noses of some of the most powerful MPs – for an inquiry. [2] But now there’s a chance our evidence could be ignored, because when the general election was called, the inquiry was put on hold. And it’s not certain it’ll reopen.

Mark Carney would like nothing more than to see this inquiry dropped. For his role in increasing inequality to be swept under the carpet. But Positive Money supporters believe the Bank of England should be properly scrutinised by MPs. And this inquiry was our “once-in-a-decade” chance to show we are watching the social impact of the Bank’s policies. [3]

Nicky Morgan MP is the new chair of the committee that ran this inquiry. [4] She and its members have the power to reopen it now parliament is back at work. She’s new to the job, and keen to make a good impression on the public and other MPs. So together, if enough of us email our MPs today and ask them to contact Nicky, she could feel the pressure to reopen the inquiry without delay.

Please will you email your MP now? There’s ready-made text so it should take you only 1 minute:Nicky Morgan’s committee – the Treasury Select Committee – has several different inquiries it could undertake. But the Bank of England is the most powerful economic institution we have, and at the moment it’s not being properly scrutinised. This inquiry is a chance to change that.

And with Brexit happening, and more uncertainty for the UK economy coming, it’s even more important that the Bank of England knows it has to serve ordinary people and communities, not simply financial markets and the richest people in society.

But this will only happen if we can convince Nicky Morgan to reopen the inquiry into the effectiveness of monetary policy since 2008. If she and her fellow committee members see Positive Money’s evidence, including a statement signed by 10,000 supporters like you, along with the research of top economists, showing how many people want a radical rethink.

Monetary policy since the financial crash has not only failed to reboot our economy but has also increased inequality. This is unacceptable. And it’s time it changed. Please email your MP today to call for the inquiry to reopen without delay, so we can all have a fairer economy sooner: [1] http://www.theguardian.com/politics/2016/aug/03/a-post-brexit-economic-policy-reset-for-the-uk-is-essential
[2] http://bsd.wpenginepowered.com/2017/04/submission-tsc/
[3] When Positive Money met with one of the former MPs on this Committee earlier in the year, he told us this was a “once-in-a-decade” opportunity to change the direction of the UK’s monetary policy.
[4] https://www.ft.com/content/0bef0b36-6732-11e7-8526-7b38dcaef614