The Bank of England has voted to keep interest rates at 0.25% today. Currently, the policies of low rates and quantitative easing are designed to keep households and businesses borrowing.
Amber Rudd, who stood in for Theresa May on the BBC debate on 31st May had a new line of attack for Jeremy Corbyn, accusing him of believing in a ‘magic money tree.’ She told the audience, ‘there is no magic money tree’.
Our economy is unbalanced: money flows towards property and an oversized financial sector, sucking money in from the rest of the economy. Watch this 1 min video to find out what you can do to help tip the balance:
The inflation report from 11th May and newly released data provide further evidence that the UK economy is increasingly unbalanced. The Bank of England has warned that wages are stagnating, while everyday prices are rising, leading to a higher cost of living.
Positive Money’s submission to the Treasury Select Committee on the effectiveness and impact of post-2008 UK monetary policy
The House of Commons Treasury Select Committee is undertaking a landmark inquiry into monetary policy. Our aim is to persuade the committee to acknowledge monetary policy’s bad side-effects and to consider the benefits of fairer and more sustainable monetary policy tools. With this in mind, we coordinated a joint letter from over 40 leading economists, as well as a statement from nearly 10,000 people.