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Dear John,
February’s been another busy month for Positive Money, with a virtual appearance in Parliament and key moments for our campaign to green the Bank of England.
A couple of weeks ago, our Director Fran Boait gave verbal evidence to The House of Lords’ Economic Affairs Committee, as part of their inquiry into the Bank of England’s money creation programme, known as quantitative easing (QE). Fran told them how wrong it is that the Bank's huge QE programme has turbocharged inequality in the last decade. Billions of pounds have gone to financial markets and property markets, which has caused inequality to soar. Last month the average London house price hit half a million pounds for the first time ever. [1] |
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For more info on what Fran said, read our latest blog or check out our highlights video - please share to help spread the news about QE’s negative side effects. And for a deeper dive into the full effects of QE and what we suggest instead, check out this blog post from our Head of Policy & Advocacy Simon Youel.
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Through petitions, events, reports and the media, together, we’ve pushed this issue to the top of the agenda and politicians are listening to us. |
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Our campaign to green the UK financial system also hit another peak this month. Over 60,000 people signed the petition demanding Chancellor Rishi Sunak stop UK banks funding fossil fuels, alongside members of SumofUs and 350org, our partners on this campaign. And hundreds of Positive Money heroes chipped in to run a front page advert in his local newspaper a couple of weeks ago. [3] This really was people power in action - hundreds of us chipping in to put our message where we knew he’d see it. |
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Positive Money supporter and North
Yorkshire constituent, Michael, with the paper |
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With a week left for him to act before the Spring Budget, we delivered the petition to Rishi Sunak yesterday. We’ll be closely watching his announcements next Wednesday, so keep an eye out for more updates after then.
Positive Money was founded to fight for a financial system that serves society - not the other way around. We now have over 30,000 voices in our community. Together we’re proving that when we speak out together, we really can make a difference - thank you for being part of our growing movement. Hannah, Rachel and the rest of the Positive Money team Notes: [1] London house prices: property market surge pushes average home above £500,000 for first time: [2] QE for people: https://positivemoney.org/what-we-do/qe-for-people/ [3] Surprise for Sunak: 60,000 demand climate action on frontpage of his local paper:
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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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