We need a money and banking system that works for me and you.
Today we depend on increasing levels of debt, pushing up house prices and driving inequality, to keep the economy afloat – but tomorrow could be different. I believe a Money Commission is an important next step to get us there.
A couple of weeks ago, we came close to getting a Money Commission debated in the Houses of Parliament. Thousands of you emailed your MP, asking them to support an amendment to the Bank of England Bill. But, unfortunately the amendment did not get debated.
Since then, civil society organisations, politicians and policymakers have been coming out in support for a Money Commission – and our campaign has gone from strength to strength.
Following the email campaign, the SNP has moved to set up an inquiry:
“George Kerevan MP has written to the Chair of the House of Commons Treasury Committee, urging him and the Committee to conduct an inquiry into this matter.” MP, Scottish National Party
The Labour Party’s review of The Bank of England review is underway. We have been in touch with Danny Blanchflower, who is heading up the review, and we are optimistic he will call Positive Money to give evidence.
“You may be aware that the Shadow Chancellor, John McDonnell MP, has initiated wide ranging reviews in HMRC, the Bank of England and the Treasury to look at these issues and more. There will be reports of these reviews sometime soon and it is hoped will examine many of the issues raised in the amendment.” Labour MP, Member of the Shadow Cabinet
We are successfully building a coalition of influence around the idea of a Money Commission, which is underpinned by your support and action.
“The time is right for some type of commission to look at how to use monetary policy to direct more investment into the productive economy… At the Transforming Finance conference on May 11 in London, there was a lot of interest from speakers and the participants for reforming monetary policy tools.” Chris Hewett, Transforming Finance Network
It’s critical to our success that politicians are aware of public support for a money commission. So, for now, we are keeping the petition calling for a Money Commission open. Please continue to share it widely.
Thank you for being involved.