Bank of Canada research finds Digital Cash could ‘improve social welfare’
22 January, 2019A Staff Working Paper published by Canada's central bank last week concluded that a central bank digital currency (CBDC) could address the issues arising from the digitisation of our money and banking system, as argued in Positive Money's Digital Cash proposal. The paper explores scenarios in which central bank-issued fiat money is eclipsed by privately [...]
What we learned from Mark Carney’s Future Forum Q&A
9 January, 2019In a welcome bid to increase its transparency, the Bank of England has been hosting online Q&As with some of its most senior staff over the past 10 weeks on its Future Forum. As noted in previous blogs, Positive Money has been contributing lots of questions ourselves and following the forum closely. On Wednesday the [...]
Bank of England Financial Stability Report: Positive Money response
28 November, 2018Commenting on expectations of lower capital requirements as a result of the Bank of England's stress testing, Fran Boait, executive director of Positive Money said: “Ten years on from the global financial crisis we risk mistakes being repeated, as the Bank of England faces pressure to roll back capital requirements so that banks can pay [...]
Another top economist supports our Digital Cash proposal
23 November, 2018As we explored last week, our proposal for Digital Cash in the form of a central bank digital currency (CBDC) is rapidly gaining the attention of some of the world's most influential policymakers. Now this week one of the biggest names in contemporary economics, Nouriel Roubini, has written an article in which he expresses support for [...]
Could a central bank digital currency halt the privatisation of our money?
16 November, 2018Over the past few days top policymakers from the IMF, ECB and Bank of England have addressed the prospect of a central bank digital currency. Here’s why it matters. Though Brexit has dominated most of the headlines this week, momentum has been gaining on another question which could have profound consequences for the global economy. [...]
“A dishonest Budget”: Positive Money Budget response
29 October, 2018Responding to today's Budget statement, Fran Boait, executive director of Positive Money said: “Today’s Budget is simply a dishonest Budget. Not only has the Chancellor failed to deliver on the end of austerity promised by his government, but he’s also continued to be dishonest about the necessity of austerity in the first place. “Beyond [...]
RBS Q3 results: Positive Money response
26 October, 2018Responding to RBS’ 2018 Q3 results which saw a 14% rise in pre-tax profits, Fran Boait, executive director of Positive Money said: “Another boost in profits is another reminder of the cost of the RBS sell-off. The government selling off its majority stake at a loss soon after the bank turns profitable would be another [...]
Campaigners hand RBS giant card to mark tenth anniversary of bailout
12 October, 2018London, UK, 12 October 2018 - Research and campaign group Positive Money have this morning delivered a ‘birthday’ card to RBS admonishing the bank for its failure to change in the decade since it was bailed out by the UK government. Positive Money campaigners handed the A0 (0.841 x 1.189 m) card to an RBS branch in Angel, [...]
Average UK household lost at least £23,000 in decade since financial crash
13 September, 201810 Years On campaign launches tool allowing public to calculate how much they’ve lost out since 2008 crash Analysis comes ahead of rally outside the Bank of England on 10th anniversary of Lehman Brothers collapse, with speakers including John McDonnell MP London, UK, 13 September 2018 - The 10 Years On campaign has today [...]