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A £20 note doesn’t cost £20 to make John 💷 The difference is something called ‘seigniorage’ - and it could give future governments £30 billion extra every year to spend on crumbling public services.
Watch to find out how and share using the buttons below to help spread the word. |
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Back when cash was king, the Bank of England used to make huge profits from seigniorage and because the Bank was publicly owned, all that money went to the Treasury to use for public spending.
But less people using physical cash has left us dependent on privately-created digital money, meaning that right now it’s big banks that are reaping the profits from money creation. There is a public alternative: a central bank-issued digital pound.
A digital pound - as a complement not a replacement for physical cash - could give the government up to £30 billion every year. That could cover a pay rise for NHS staff, help fix crumbling schools, or fund a certain political party’s green investment pledge…
Our new report The fiscal benefits of a digital pound dives into all the details. Click here to read it in full, watch the video to learn more, and hit the buttons below to share this policy proposal with hundreds more people online. |
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Most of the money in our economy is digitally created by banks when they make loans, and it’s destroyed when those loans get repaid. A public digital pound could redirect billions of pounds from seigniorage back into the public purse, and help us claw back power from the big private banks.
A public digital pound is exactly the kind of change Positive Money was founded to fight for; to win a money and banking system that works for people, not profit. Thanks for your support,
Simon Head of Policy & Advocacy, Positive Money |
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Positive Money relies on donations from generous individuals like you to carry out our research, education work and campaign for a fairer money and banking system. |
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