Which? finds one in five consumers denied right to use cash: Positive Money response
15 September, 2021London, 11 September 2021 Responding to Which?’s findings, Simon Youel, head of policy and advocacy at Positive Money, said: “As banks and other vested interests continue to wage their war on cash, the millions of people who rely on it are being attacked on two fronts. Not only are people struggling to access cash in [...]
Bank of England appoint another Goldman Sachs alum: Positive Money response
15 September, 2021London, 1 September 2021 Responding to the Bank of England’s appointment of Goldman Sachs alumnus Huw Pill as their new chief economist, Rachel Oliver, head of campaigns and organising at Positive Money, said: “The Bank of England is increasingly looking like the Bank of Goldman Sachs. Top positions at the Bank are dominated by men [...]
BoE to make green gilts eligible for QE: Positive Money response
23 July, 2021London, 23 July 2021 The Bank of England has confirmed that green gilts will be treated as equivalent to existing gilts and made eligible in its market operations, including its quantitative easing (QE) programme. The Chancellor announced at the Budget on 3 March 2021 the UK Government’s intention to issue a minimum of £15bn of [...]
Treasury to sell off Natwest at a loss: Positive Money response
22 July, 2021London, 22 July 2021 The government has just announced plans to sell more of its stake in Natwest, despite shares being worth less than half what they were when taxpayers bailed out the bank after the financial crisis. Taxpayers bailed out Natwest for £45.5bn more than a decade ago, and it’s market value now stands [...]
Lords criticise BoE’s approach to QE: Positive Money response
16 July, 2021London, 16 July 2021 A report on quantitative easing (QE) by the House of Lords’ Economic Affairs Committee published on Friday concludes that the policy has exacerbated inequality while having little impact on boosting the economy. The Committee finds that the Bank has not seriously engaged with the effects of QE on inequality, repeating accusations [...]
Bank of England fuelling 3C warming: Positive Money response
17 June, 2021London, 17 June 2021 - Research and campaign group Positive Money has called for the Bank of England to step-up its green efforts, after the Bank’s latest climate disclosure report today revealed that the central bank’s asset purchases are funding 3C global heating - double the 1.5C target the UK government is committed to via [...]
No regulatory free pass for stablecoins, says Bank of England
10 June, 2021London, 10 June 2021 - In a speech given today, senior Bank of England official Christina Segal-Knowles shed further light on the Bank’s approach to regulation of the fast-evolving digital payments landscape, saying that stablecoins will be held “to standards similar to those applicable to existing private money”. She emphasised that confidence in private money [...]
Bank of England publishes climate stress tests: Positive Money response
8 June, 2021London, 8 June 2021 - Responding to the publication of the Bank of England’s climate stress test scenarios this morning, Positive Money senior economist David Barmes said: “The Bank’s climate scenario analysis may be a useful exploratory exercise, but it’s time to move from exploring to acting. Scenario analysis is incapable of accurately measuring highly [...]