Bank of England hints at climate conditions for future bailouts
1 October, 2020The central bank is under fire from MPs for its Covid bailout scheme’s failure to protect jobs and the environment. The Bank of England may attach climate conditions to its asset purchases, a senior Bank of England official told MPs on the Environmental Audit Committee this morning, after coming under fire for the lack of [...]
It’s our 10 year anniversary!
30 September, 2020We’ve come a long way and achieved a lot together since 2010 - but do you know how we got here? Check out our highlights from the last 10 years. In 2010, with the world still reeling from the financial crash, mainstream commentators were wrongly laying the blame at the feet of a few reckless [...]
The revolving door between government & finance must slam shut
18 August, 2020Former Chancellor Sajid Javid’s new job at JP Morgan, marks yet another swing in the revolving door between our biggest financial and political institutions - one that desperately needs slamming shut. It was announced this week that Sajid Javid will join the US banking giant JP Morgan as a senior advisor. The move will be [...]
Bank of England Governor accused of greenwashing
18 June, 2020Protestors gathered outside the Bank of England this morning, to shine a light on their billions of pounds worth of bailouts to big polluters, and highlight the hypocrisy of Governor Andrew Bailey. Environmental activists from the grassroots divestment group Fossil Free London and Extinction Rebellion Hammersmith & Fulham, met this morning to protest the use [...]
A majority agree: public health before economic growth
12 May, 2020It’s official: a majority of people want the government to prioritise health and wellbeing over economic growth - a YouGov poll we commissioned has revealed. When asked whether the UK should prioritise economic growth or the health and wellbeing of citizens during the coronavirus crisis, more than 8 out of 10 people (82%) opted for [...]
The Tragedy of Growth – New Positive Money Report and Webinar
11 May, 2020As Covid-19 takes its toll on GDP figures, we must avoid a return to the kind of policymaking that chases economic growth above all else. In Positive Money’s new report we argue that by stopping our obsession with GDP, we can start designing policies that really work for people and planet, such as a universal [...]
Bank of England come clean: stop secret business bailouts now – petition launch
28 April, 2020While small and independent businesses are struggling to survive, the Bank of England is creating billions in new money to bail out Britain’s biggest companies - in secret. As public money we deserve to know where this is being spent, so today we’re launching a petition to demand the Bank lift this veil of secrecy. [...]
New Positive Money Report Launch and Webinar: ‘Money We Trust’
24 April, 2020In the face of technological innovation and declining cash use, we need a new kind of public money fit for the 21st century. And with Covid-19 throwing our increasingly privatised and precarious money and banking system into even sharper relief, today Positive Money launched its latest report exploring a central bank digital currency. After gaining [...]
Major breakthrough on public money creation: The Bank of England will directly finance government coronavirus spending
9 April, 2020UK central bank becomes first in the world to adopt direct monetary financing to fund government spending during the coronavirus crisis. This move demonstrates once and for all that the government need not depend on private markets to finance its spending. This morning the Bank of England made the welcome announcement that it would expand [...]