Dear John,

This year, the Bank of England’s looking into launching a new digital form of money. [1] It could be a game changer for our economy. But whether it works for private banks and tech companies, or for the public interest, is up for grabs.

The Bank’s going to consult businesses and the public in 2022 on how it could work. If they choose to make it publicly owned and open to everyone, it could democratise our money and payment system. [2] We wouldn’t have to rely on big banks to store our money, or bail them out. We’d have a secure public system instead.

But the private lobbyists will be fighting for control of it. [3] So we need to make sure the Bank chooses democracy and stability - not more power and profits for banks. How? By pooling our resources together to run a big, public campaign.

Positive Money is all about people power. Our power depends on the generosity of supporters who are up for chipping in. And regular donations mean we can get organised to challenge the status quo when the big opportunities like this come along.

In the last few weeks, supporters like Rosie, Ian and Klas have joined over 400 others to become regular Positive Money donors. John, please will you help win a public money system in 2022 by giving a small amount each month? It will only take 2 minutes.

YES I'LL CHIP IN £5 A MONTH

YES I'LL CHIP IN £10 A MONTH

YES I'LL CHIP IN ANOTHER AMOUNT

Democratising money has been at the heart of Positive Money’s work since we started. [5] We believe a well-designed public digital money system - a Central Bank Digital Currency - could be the foundation for a much fairer and more sustainable economy. So it's hard to overplay how big the opportunity this year is.

Positive Money started as a grassroots movement in 2010, to campaign for a money and banking system that works in the public interest, and not the big banks’. Since then, we’ve grown a lot and had some big breakthroughs. Just last year, we helped win a green mandate for the Bank of England - a huge systemic change. [4]

The lobbyists from the big banks and tech companies are hatching their plans to take full control of the digital payment system. So we’re getting ready too. John, the more of us who pool our resources, the more chance we’ll have of winning a fair public payment system. Please will you become a regular donor now?

YES I'LL CHIP IN £5 A MONTH

YES I'LL CHIP IN £10 A MONTH

YES I'LL CHIP IN ANOTHER AMOUNT

Thank you for all that you do,

Rachel, Nicole and the rest of the Positive Money team

Notes:

[1] John Glen MP’s statement on Central Bank Digital Currencies, 9 November 2021:

https://questions-statements.parliament.uk/written-statements/detail/2021-11-09/hcws381

Positive Money blog:

UK could see digital pound by ‘second half of the decade’

[2] Positive Money 2-minute video:

Stop private corporations deciding the future of money