Govt should put public health ahead of private wealth: Positive Money response to GDP figures
13 May, 2020Responding to the ONS’ estimate that GDP fell by 2% from January until the end of March, and 5.8% in March, Fran Boait, executive director of Positive Money, said: “As GDP continues to fall policymakers will be increasingly tempted to accelerate the easing of emergency public health measures in order to get the economy growing [...]
New polling: only 12% want UK to prioritise economic growth over wellbeing
11 May, 2020More than 8 in 10 think UK should prioritise health and wellbeing of citizens over GDP during coronavirus crisis Over 6 in 10 think UK should prioritise improved social and environmental outcomes over GDP when pandemic is over London, 11 May 2020 - Little more than 1 in 10 (12%) Britons think the UK [...]
Stop publishing growth stats to save people and planet – report
11 May, 2020Report calls for policymakers to adopt social and environmental indicators, and consider policies such as universal basic income, monetary financing and debt jubilees to ensure fair transition to post-growth economy London, 11 May 2020 - The Office for National Statistics (ONS) should stop publishing gross domestic product (GDP) figures and instead place more emphasis on [...]
PRESS RELEASE: Issue digital cash or lose trust in money, report warns
23 April, 2020Central bank digital currency could help in crises like covid pandemic, allowing ‘helicopter money’ and a means of ‘disciplining’ banks London, 23 April 2020 - Central banks like the Bank of England should issue a digital version of cash to prevent the ‘privatisation’ of money and trust in the monetary system disappearing, according to a [...]
PRESS RELEASE: Bank of England under fire for fossil fuel purchases
16 April, 2020London, 16 April 2020 - Research and campaign group Positive Money has criticised Bank of England (BoE) governor Andrew Bailey for “breaking his promise” to decarbonise the central bank’s corporate quantitative easing (QE) programme, after the Bank revealed it is still willing to purchase bonds from fossil fuel and carbon-intensive companies. In response to an [...]
PRESS RELEASE: Government bailing out big business with public money behind the scenes through CCFF
9 April, 2020London, 9 April 2020 - Research and campaign group Positive Money has today raised questions over the transparency of the Covid Corporate Financing Facility (CCFF), after the Bank of England revealed that big companies have drawn a further £3.6bn from the scheme this week. Launched by the Bank of England and the Treasury in March, [...]
Bank of England embraces monetary financing: Positive Money response
9 April, 2020Responding to the news that the Bank of England will be directly financing government spending through the Ways and Means facility, Fran Boait, executive director of Positive Money said: “It is welcome that the Bank of England is using its power to create money to directly finance government spending, after denying that such a tool [...]
Gov must not be pressured by growth figures to endanger lives: Positive Money response to GDP figures
9 April, 2020Responding to figures published today by the ONS which showed GDP grew by just 0.1% in the three months to February, Fran Boait, executive director of Positive Money said: “There is a risk that as growth figures get worse the government will be pressured to relax Coronavirus prevention measures to get the economy going again, [...]
Covid-19 crisis: An open letter to the UK government calling for faster and more far-reaching action
23 March, 2020Below is an open letter to the UK government signed by 98 economists, academics and directors of research organisations, including Positive Money. An edited version first appeared in The Times on Monday 23 March 2020. A welcome change but more is needed We welcome the government’s new measures to support workers, particularly the introduction of grants [...]