Labour U-Turn on bankers bonus: Positive Money response
31 January, 2024London, 31 January 2024 - Positive Money responds to Rachel Reeves’ comments today that she would “unashamedly champion” the UK’s financial sector if Labour wins the general election. Fran Boait, co-executive director of Positive Money, said: "It's deeply disappointing to see Labour go from criticising giveaways to bankers to simply aping the government's policies." "It [...]
BoE’s digital pound consultation response: Positive Money response
25 January, 2024London, 25 January 2024 - Positive Money reacts to the Bank of England’s response to the digital pound consultation it launched alongside the Treasury last year, published today. Simon Youel, head of policy and advocacy at research and campaign group Positive Money, said: “It’s reassuring to see the Bank of England commit to the necessary [...]
Campaigners trick or treat the banks
31 October, 2023October 31, 2023 Britain’s big four banks have made over £41 billion in profits so far this year Demonstrators took to the streets of London this week to “trick or treat” Britain’s four biggest banks - HSBC, Barclays, Lloyds Bank and NatWest - as they announced a collective £41 billion in pre-tax profits for the [...]
HSBC Q3 profits: Positive Money response
30 October, 2023London, 30 October 2023 - Responding to HSBC’s announcement this morning that its pre-tax profits for the third quarter of 2023 were £6.37 billion, compared to £2.67 billion for the same period last year (a 138% increase), taking its profits for 2023 so far to £24.3 billion, up from £9.9 billion last year (a 145% [...]
Natwest Q3 profits: Positive Money response
27 October, 2023London, 27 October 2023 - Responding to NatWest’s announcement this morning that its pre-tax profits for the third quarter of 2023 were £1.3 billion, taking its profits for 2023 so far to £4.9 billion, Fran Boait, co-executive director of Positive Money said: “Not only have soaring interest rates failed to address the root causes of inflation and [...]
Lloyds Bank Q3 2023 profits: Positive Money response
25 October, 2023London, 25 October 2023 - Responding to Lloyds Banking Group’s announcement this morning that its pre-tax profits for the third quarter of 2023 were £1.9 billion, taking its profits for 2023 so far to £5.7 billion, Fran Boait, co-executive director of Positive Money said: “Whilst ordinary people are pushed into poverty by soaring interest rates, banks [...]
Barclays Q3 2023 profits & bankers bonus cap scrapped: Positive Money response
24 October, 2023London, 24th October 2023 - In response to Barclays announcement this morning that its pre-tax profits for the third quarter of 2023 were £1.9 billion, taking its profits for 2023 so far to £6.5 billion, Fran Boait, co-executive director of Positive Money said: “These profits are the product of suffering: the high interest rates they’re derived [...]
Protesters welcome Bank of England’s pause to rate rises
21 September, 2023September 21, 2023 Protestors called for an end to inequality caused by interest rate rises A demonstration was held this morning outside the Bank of England, to highlight the inequality caused by interest rates whilst the Bank debated whether to raise them again today. Participants celebrated as the Bank decided to press pause and break [...]
UK public support windfall tax on banks, polling shows
21 September, 2023Momentum for windfall tax grows as Bank of England rate hikes boost bank profits London, 21 September 2023 - Only 12% of UK adults oppose a windfall tax on banks, whereas 58% are in support, YouGov polling commissioned by research and campaign group Positive Money has today revealed. The results come as UK banks have [...]