Bank of England pauses active QT: Positive Money response

Sara Hall, Co-Executive Director of Positive Money, said:

“It’s positive to see the Bank of England has paused active sales for now, whilst it considers a plan to actively sell this debt to the government, instead of directly to private markets. 

“It’s good to see more coordination between the Bank and Treasury on these issues, but today’s decision didn’t go far enough to stem the costs - the Bank could have stopped active sales entirely.

“As we approach the Budget, addressing the costs of monetary policy to the Government will now be in the Treasury’s hands - the simplest way to address this is a windfall tax on banks.”

Notes to editors:

For more information or to speak to a spokesperson, please contact press@positivemoney.org.uk

About Positive Money:

Positive Money is an international research and campaign organisation working to redesign our economic system for social justice and a liveable planet. Set up in the aftermath of the financial crisis, Positive Money is a not-for-profit company funded by charitable trusts and foundations, as well as small donations from its network of supporters. Find out more: www.positivemoney.org