Climate change threatens financial stability - so why isn't the Bank of England taking it seriously?
Our Co-ED @hallsara.bsky.social argues in @thehousemag.bsky.social that the Bank should be playing a bigger role in greening our economy and supporting UK climate goals 👇
10 years ago in a landmark speech, Mark Carney warned of the threat the climate crisis poses to financial security - but the Bank of England is yet to heed it.
We joined 10 other organisations in calling on MPs to change that.
Full story in @theguardian.com 👉 www.theguardian.com/business/202...
The British public are clear:
It’s time for those with the broadest shoulders to pay a fairer share of taxes.
Excellent work - and media coverage - by @positivemoneyuk.bsky.social
⚡BREAKING ⚡
A windfall tax on banks on banks could raise more than *£11 billion*
That's enough to cover the cost of the welfare u-turn AND scrapping the two-child benefit cap
Catch us in The Mirror today 👇 and add your name 👉bit.ly/taxthebanks
www.mirror.co.uk/mon...
“Put plainly, loosening mortgage rules really translates to saddling households with larger, less sustainable debts, instead of tackling the underlying causes of unaffordability.”
Our @hallsara.bsky.social in @theguardian.com today 👇
www.theguardian.com/business/202...
The government's new Financial Services Growth and Competitiveness strategy risks undermining its industrial policy & growth mission.
Here's my analysis:
www.linkedin.com/pulse/govern...
1/2
Lots of media focus on the Bank of England supporting the government's proposal to loosen mortgage rules (i.e. let first-time buyers take on more debt).
But what about further down in their report - where they admit that this could actually push up house prices?
Sept 2023: Our polling found most people want to #TaxTheBanks
May 2025: Gordon Brown's polling found most people want to #TaxTheBanks
June 2025: @tuc.org.uk polling found most people want to #TaxTheBanks
Are you with us?
Tell Rachel Reeves today ⬇️
bit.ly/taxthebanks
Win! 🎉
Changes to Cash ISAs have been scrapped (for now!)
But it's not over yet - Reeves is still "consulting with industry". Sign the petition now to make this pause permanent 👇you.38degrees.org.uk...
The UK desperately needs a public bank that is laser focussed on delivering for climate, nature and living standards.
The National Wealth Fund is an opportunity to have just that.
Read our new briefing for how it can be strengthened: bit.ly/4eoQcdI
1/5
Having the governor of the Bank of England acknowledge the impact of climate change on prices is a huge deal.
But what are the Bank doing about it?
It'll take far better tools than interest rates to fix this problem 👉 positivemoney.org/uk/update/gr...
The fiscal rules are a political choice.
Not taxing extreme wealth and windfall profits fairly is a political choice.
Spending cuts are a political choice.
Tell the Chancellor it's time to choose *us* over corporations like banks 👉bit.ly/taxthebanks
Great to see our research recommendations on the benefits of lending to countries in their local currencies (rather than dollars) getting picked up 👇
This can go a long way towards reducing the debt burden on countries in the Global South.
serrarigroup.com/africa-to-un...
We were outside parl’t this morning, ahead of this afternoon’s Comprehensive Spending Review.
Unfortunately, the gov’t is expected to announce a raft of cuts to public services.
This is a political choice. They should make the super-rich pay their fair share of taxes instead.
"The interests of London’s financial elite are not the same as those of Sunderland or Sheffield."
Prioritising the financial sector has been devastating for large parts of Britain.
An ambitious industrial strategy could start undoing some of that damage
www.politico.eu/article/brit...
The UK govt softened tax reforms on the superrich because of a widely reported “exodus” of millionaires fleeing the UK.
Our new study w/ @patmillsuk.bsky.social & @taxjusticeuk.bsky.social shows that the "exodus" was a complete fiction.
#BogusExodus #TaxTheSuperRich
taxjustice.net/press/millio...
We want to make sure Rachel Reeves MP sees some important % and ££s:
🇬🇧 80% of UK millionaires support a 2% tax on wealth over £10m
🇬🇧 81% think it’s patriotic to pay their fair share
We’re proud to pay and here to stay
#taxthesuperrich #taxwealthnotwork
It's good to see Swati Dhingra highlight how important strategic investments are for responding to inflation driven by supply factors like our reliance on fossil fuels in response to questions from @jeevunsandher.bsky.social on the Treasury Select Committee 👇
Even though GDP grew by 0.7% in the first quarter of this year, the Bank of England, OECD and IMF all predict this trend won't last.
That's why we need a government that doesn't draw for austerity every time an economic forecast changes.
Our full response 👉
positivemoney.org/uk/press-rel...
🧑🏭 Lately we’ve been reflecting on the UN’s warning about insecure jobs, unfair pay, and rising exploitation in the UK. Human rights start at work — and the UK isn’t meeting its obligations.
📚 Read our latest blog on what must change.
justfair.org.uk/righ...
Up to £150 billion.
That's how much the government stands to lose because it's covering the Bank of England's losses.
The Bank of England could easily stem this flow if it...
🎥 @ecb.europa.eu's Luis de Guindos told the EU Parliament the #DigitalEuro should be the main response to reduce Europe’s dependence on US payment systems.
The digital euro could be a public, European, and safer alternative to today’s private payment giants.
➡️ positivemoney.org/eu/work/the-...
The UK’s pension system is worth almost £3 trillion (that's twelve zeros)!
Yet millions of us are facing poverty in retirement.
This is a rare chance to have a say in how that system can change.
Make your voice heard 👇
Cash is a lifeline for millions of vulnerable people and a vital public utility - like water and electricity - we shouldn’t let our money and payments system be run for profit 💷
Tell the government to mandate cash acceptance.
Sign the petition to #KeepCashAlive ✍️ bit.ly/KeepCashAlive
"The short-term solution to this would be a windfall tax on banks’ record profits, to recoup some of the public money banks have taken since rates started rising."
We told @cityam.bsky.social how the Chancellor could restore some much-needed fiscal headroom.
www.cityam.com/tax-hikes-wo...
The White House is calling it ‘Liberation Day’, but US tariffs will hit communities around the world - especially in the Global South - because of the power of the US dollar and the role it plays in global trade.
That’s why we need to care about Trump’s tariff tantrums 👶
£5bn disability benefit cuts will push 250,000 into poverty. Women—especially Disabled women and unpaid carers—will be hardest hit. Why target the most vulnerable?
WBG Director @maryannstephenson.bsky.social sets out the case for fairer choices: www.opendemocracy.net/en/disabilit...
The biggest disability cuts on record?
This week, we explore the scale of disability benefit cuts, the economic and moral arguments around this controversial decision, and the impact it will have on millions of people.
www.neweconomybrief.net/the-digest/s...
🚨NEW: Anneliese Dodds says govt must ‘reassess’ fiscal rules and taxation pledges in first speech since resignation
“We must be prepared to reassess shibboleths, whether they be the fiscal rules, as Germany has done, or on taxation.”
Thread of clips from this thoughtful speech 👇
