Andrew Bailey calls for green recovery, but BoE must lead by example
5 June, 2020London, 5 June 2020 - Research and campaign group Positive Money has welcomed Bank of England (BoE) governor Andrew Bailey’s calls for a green recovery from the Covid crisis, but urges Britain’s central bank to lead by example. Bailey is among current and former central bankers writing in The Guardian today calling for the response [...]
BoE bailing out ‘climate criminals and bad bosses’
4 June, 2020Airlines receive £1.8bn of public money with no strings attached, oil companies £750m. London, 4 June 2020 - Research and campaign group Positive Money has called for the government to consider stricter conditions on public assistance to big business, after the Bank of England (BoE) today revealed that a host of socially and environmentally irresponsible [...]
Bank of England comes clean on corporate bailouts following Positive Money campaign
19 May, 2020London, 19 May 2020 - The Treasury and the Bank of England have today announced that the names of companies being bailed out through the Covid Corporate Financing Facility (CCFF) will be made public, and conditions will be attached, following pressure from research and campaign group Positive Money. The CCFF allows investment-grade companies to sell [...]
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 [...]
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, [...]