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Dear John,
This morning one of our most powerful economic institutions got a new boss: it’s Andrew Bailey’s first day as governor of the Bank of England.
A new governor presents a rare opportunity for a national conversation about the Bank’s role in our economy - so we’ve made a video with some of our demands to kickstart it! |
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Last week the Bank of England successfully coordinated with the government in responding to coronavirus. [1] This is exactly the kind of cooperation we called for in our report ‘Seeking Legitimacy’ because it injects more democracy into the Bank’s operations and brings about better results. [2] However, while it’s dominating headlines now, Covid-19 isn’t the only challenge we face.
With an ongoing climate emergency, we need the Bank to use all the tools at its disposal to stop banks pouring new money into fossil fuels. And with the threat of a recession looming, we need to make sure the Bank’s response benefits the whole of society, not just the City of London. As a people-powered movement, Positive Money is uniquely placed to spark a national conversation and build public support for ideas like these.
With the spotlight on the Bank to battle coronavirus, Bailey’s first day is a huge opportunity to spark a national conversation about the role of the Bank of England, let’s act now and seize it!
Please John, help kickstart a national conversation on the role of the Bank of England by sharing our video today, it’ll only take a minute. |
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As our recent wins on green central banking show, when enough of us come together with one voice, bank officials really do sit up and listen, so let’s score another win, and start reshaping our central bank into one that works for everyone. [3] Thank you for your support,
Hannah, Zack, David and the rest of the Positive Money team [1] Hopes rise for Bank of England coronavirus intervention [2] New Positive Money report ‘Seeking Legitimacy’ launched in Parliament [3] Andrew Bailey announces crucial step towards climate-friendly Bank of England Press release: Bank of England considering ‘game-changing’ brown-penalising factor for fossil fuel lending |
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