Our questions for Mark Carney, Governor of the Bank of England

Ahead of the Bank of England’s Future Forum Round Table discussion on 28th January 2019, we asked Positive Money supporters for their most pressing questions for the Bank of England. Below is a pick from a very interesting bunch! Positive Money’s Simon Youel attended the round table on behalf of Positive Money supporters, alongside some other members of the public, industry experts and the Governors of the Bank of England.

If you could ask the Bank of England one question, what would it be?

Why do we have to have a debt-based money system? (Mark in Southsea, Colin in Swanscombe)

What is the bank doing to address the widening inequality gap? (Nicolas, Newcastle)

What will you do in the event of a hard / no-deal Brexit? (Richard, Choppin Norton)

What can the BoE do to ensure corporations can’t ignore climate change implications of their operations? (Peter, Sheffield)

When are you going to serve the needs of the general public? (Colin, Glasgow)

Do you think the issue of money should be directly connected to a positive impact on the environment and to serving everyone not just the few? (Ian, Dartford)

How can we, the public, take back control of money creation? (Adrian, Newcastle)

Do you intend to explain to the populace how money is really created, including MPs so that every ordinary person in the street understands exactly how money is created and the role they play in its creation (such as by taking out loans)? (Stewart, Redhill)

Do you think it’s right that poor people are extorted by payday loans companies whilst the super rich effectively get access to free credit? (Edward, Bristol)

After the financial crash why did the benefits of QE predominantly go to the banks that helped caused the crisis rather than helping the people who suffered because of it? (Tom, Leeds)

Does the BoE think it is morally OK to be involved in promoting the development of a society with the degree of financial inequality as ours?  Where banks have money printed for them when they are in trouble but growing numbers of people have to routinely live from foodbanks. (Stephen, Beverley)

Why did you carry on with QE (in the form it was in) when it became perfectly clear that it’s main mpact was to inflate share prices? (Bob, Bristol)

Why isn’t the public allowed to have a bank account with the bank of England? (Stephen, Cardiff)

Why can’t the government borrow money on an interest free basis so that it can invest in our future and create jobs? (Richard, Kings Lynn)

How would you finish this sentence? The Bank of England is…

Letting people down by not using its powers to transform the financial system for the better. (Greg, Sussex)

complicit in a flawed monetary system (Eslpeth, Edinburgh)

Failing to realise that ALL the benefits of money creation are deriving to the private sector not the state and its people (Rob, Southend)

too committed to old models of the economy and banking that rule out policies that would benefit people and small businesses (Chris, Bristol)

Not fit for purpose, if its purpose is seen as being a force for addressing the central challenges of our time in facing up to climate destabilisation, growing levels of inequality and the concentration of wealth and power into fewer and fewer hands and needs a systemic rethink (Geoff, Hebden Bridge)

insufficiently interested in equality. (Marion, Thornton)

Not working in the interest of the majority of people. (Ian, Desborough)

working on behalf of the city, to prop up a broken financial system that no longer works for small and medium sized businesses and the people of England who generate the real value in the economy. (Sanjee, Newcastle)

not adequately protecting the public’s access to cash and face to face banking services. (Grahame, Chorley)

A responsible and reasonable organisation, but must assess its planning goals and horizons. Global warming will cost us dearly if not addressed with all haste. (Paul, Stafford)

The Bank of England is in a perfect position to lead the way in investment to fight climate change (Richard, Scotland)

important and powerful and able to change things for the better. (Sue, Sheffield)

our best hope of changing the system for the better. (Michael, St Albans)

hopefully ready to listen, before the banking system crashes again. (Helen, Lancashire)