• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Go to Positive Money Europe

Positive Money

Making money and banking work for society

  • About us
    • Our vision
    • Who we are
    • History & highlights
    • Contact us
    • There are currently no vacancies available
    • In the media
    • Funding & Annual Reports
  • What we do
    • Educate & empower
    • Research and Policy
    • Campaign & local groups
    • Influence decision makers
    • In the media
    • International Movement
    • Events
  • Resources
    • Videos
    • Publications
    • Local group resources
    • Lobby your MP
    • Organise an Event
    • Policy resources
    • Shop
  • Press
  • Blog
  • Donate
  • Positive Money Europe

“No rate rise without a pay rise” protest at the Bank of England

by Positive Money

On Thursday 2nd November, the Bank of England was supposed to announce its decision on raising interest rates.

Wages aren’t keeping up with the cost of living. Most people haven’t had a pay rise for a decade and we’re experiencing the longest period of wage stagnation since the eighteenth century. The government’s squeeze on pay has made employees in the public sector thousands of pounds worse off, while companies are choosing bigger dividends over investment in their workers.

Despite these conditions, the Bank of England was considering raising interest rates, which means higher mortgage payments and credit card bills, and killing off an already fragile recovery. With the biggest consumer debt burden in history, many households are drowning in debt. Even a small rate rise can push them under.

The government and the Bank of England have the power to boost incomes, should they choose to use it. But instead, the Bank has spent the last eight years pumping billions into financial markets through quantitative easing, while the government’s been cutting spending for the rest of us.

So, Positive Money team and supporters gathered opposite the Bank to tell Governor Mark Carney and his colleagues not to make a decision the country can’t afford. 

We were there to meet them with a “No rate rise without a pay rise” banner. 

There were also speeches from:
Fran Boait – Executive Director, Positive Money
Samuel Tarry – Political Officer, TSSA
Faiza Shaheen – Director, CLASS


Bank of England & QE, Campaigns

Positive Money

Primary Sidebar

Get our latest campaign updates

Recent Posts

  • Big win: New green mandate for the Bank of England
  • Quantitative easing “turbocharges” inequality: our evidence to the House of Lords
  • Surprise for Sunak: 60,000 demand climate action on frontpage of his local paper
  • QE or not to QE? Soaring inequality shows it’s time for a new macroeconomic approach
  • Update from Chair of the Board on Interim Leadership

Footer

Follow us on social media

  • Facebook
  • Instagram
  • Twitter
  • YouTube

This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0 Unported License.


Privacy Policy, Terms & Conditions


Positive Money is a company limited by guarantee registered in England and Wales. Registered number 07253015.
Registered office: 307 Davina House, 137-149 Goswell Road, London EC1V 7ET.


Positive Money Europe