At just over halfway through the year, we want to share the latest news from the Positive Money campaign.
The Bank of England has been warned of complacency over the big rise in personal debt. In its toughest warning yet about the possibility of a rerun of the financial crisis that devastated the economy 10 years ago, the Bank of England admitted it was alarmed about the increase in the amount of money being borrowed on easy terms over the past year, reported the Guardian, 24th July 2017.
The Office of Budget Responsibility (OBR) - the government’s fiscal watchdog – has released a ‘Fiscal Risk Report’. Positive Money welcomes its in-depth analysis, but we are concerned with its central findings.
For years we’ve been saying it’s crucial our politicians understand where money comes from - that banks create almost all money in our economy, resulting in an oversized financial sector and property bubbles. Now we have a chance to see how effective the Positive Money campaign’s been by finding out what MPs know today.