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John, it’s just been revealed that some of the biggest companies bailed out with public money have paid their shareholders billions whilst laying off tens of thousands of workers. [1]
This is obscene. Small businesses are closing and millions of people are losing their jobs, while the Bank of England's giving billions of pounds to greedy corporations.
This injustice needs to stop. Over 10,000 of us have already signed the petition calling for much stronger conditions to be attached to public bailouts. And tomorrow we’re making a big noise about it in the media. [2] John, please will you add your name in 30 seconds now?
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My colleague Simon worked closely with a journalist at Vice to expose the truth about these corporate bailouts. A couple of weeks ago we released a report about them too. [3] It builds on our earlier campaign which forced the Bank of England to make the names of the companies receiving help public. [4]
And not only are they laying off staff, these are some of the worst polluters in the world - airlines, carmakers, oil and gas companies. We all know they cannot green their operations overnight, but when the Government is legally committed to reducing carbon emissions by 2030, it needs to make sure any company getting public money at least has a plan to.
Our politicians talk about building back better, about this being our chance to build a green post-Covid economy. But so far their actions aren’t living up to their words.
Inequality is out of control. Climate change is going to cause another public emergency unless we act now. We need our politicians to get serious. Please will you help crank up the pressure by calling for environmental and social conditions to be attached to all public bailouts? It’ll take you less than 30 seconds: |
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Thank you for being involved,
Rachel, Simon and the rest of the Positive Money team PS: For more information about this issue, here’s a two-minute video for you to watch and share. Notes: [1] Vice: Corporations Receiving Bailout Billions Have Laid Off Staff and Paid Investors: [2] London Loves Business: Protestors to target Bank of England over climate change issues: https://londonlovesbusiness.com/protestors-to-target-bank-of-england-over-climate-change-issues/ [3] Positive Money: Where are the conditions for the Bank of England’s broken bailout scheme? [4] Positive Money: Bank of England comes clean on corporate bailouts following Positive Money campaign: https://positivemoney.org/2020/05/press-release-govt-and-boe-comes-clean-on-corporate-bailouts/
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