Financial Services and Markets Bill threatens levelling up: Positive Money response to Queen’s speech
10 May, 202210th May 2022 The Financial Services and Markets Bill, announced in the Queen’s Speech this morning, is expected to deliver the government’s ‘Future Regulatory Framework, which proposes fundamental changes to the purpose of the rules that shape the critical financial services sector, and who holds power over them. The Treasury has announced that the Bill [...]
Government should take the lead in tackling cost of living
5 May, 2022London, 5 May 2022 Responding to the Bank of England’s decision to increase the Bank Rate by 0.25 percentage points, to 1%, research and campaign group Positive Money has called for the government to take the lead in tackling the cost of living crisis. Fran Boait, executive director of Positive Money, said: “The Bank of [...]
Finance and energy security: what happened last week?
14 April, 2022April 14, 2022 There’s a lot of news unfolding fast at the moment, and last week was no exception. So here we’ve condensed the key climate developments from the last week - from big announcements by the UN and UK government - and what they mean for the movement to end finance for fossil fuels [...]
Sunak updates BoE remit: Positive Money response
7 April, 2022Responding to the news that Rishi Sunak has today updated the remit of the Bank of England to support the government’s energy strategy, research and campaign group Positive Money have called for the central bank to urgently restrict UK banks’ investment in fossil fuels and redirect finance towards renewables. In separate letters to the Bank’s [...]
Public says no to financial deregulation
4 February, 202237 civil society groups have come together to oppose plans for financial regulators to prioritise 'international competitiveness' - a Trojan horse for sweeping deregulation that could cause financial instability as well as threatening the government's net zero target & levelling up goals. 9 in 10 Brits oppose the move, according to new research by the [...]
Rate rise a blunt tool to manage cost of living crisis
3 February, 2022London, 3 Feb 2022 Today, the Bank of England’s Monetary Policy Committee voted to impose the second back-to-back rate rise since 2004, raising interest rates to 0.5%. The Committee also voted unanimously to fully unwind the Bank’s stock of corporate bond purchases by 2023, a £20 billion portfolio that has drawn criticism from campaigners for [...]
Bank of England told to restrict fossil finance ahead of Financial Stability Report
13 December, 2021London, 13th December 2021 Climate campaigners gathered outside the Bank of England today to demand that policymakers introduce restrictions on UK banks’ investments in fossil fuels, ahead of this afternoon’s Financial Stability Report press conference. In a stunt organised by research and campaign group Positive Money, activists wore masks of Rishi Sunak and Andrew Bailey’s [...]
6 in 10 Brits want to end fossil fuel finance
10 November, 2021London, 10th November 2021 More than 6 in 10 people in the UK support policies to stop financial firms fuelling the climate crisis, new polling has revealed. 61% of 2000 UK adults surveyed by Opinium Research were in favour of ‘stopping banks, insurers and other private financiers from supporting and profiting from fossil fuel extraction’, [...]
UK could see digital pound by ‘second half of the decade’: Positive Money response
9 November, 2021London, 9 November 2021 The Treasury and the Bank of England today announced that a decision on whether to launch a Central Bank Digital Currency (CBDC) will be made following a public consultation next year. The earliest date for the launch of a CBDC would be “in the second half of the decade”, according to [...]