Free information index
Can a reformed financial system solve the world’s biggest problems? 17th November 2017
"Shocking ignorance" from MPs who don't know where money comes from 27th October 2017
The Cashless Society TYRANNY is almost here! 13th October 2017
Positive Money - Labour conference video compressed 12th October 2017
UK Household Debt has Reached Unsustainable Levels 7th October 2017
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A stronger and fairer economy means standing up for working people and providing the support that businesses and industry need. Labour will invest in our country to boost our economy and deliver for working people. It’s only with a Labour government that working people’s living standards will be protected.
For the last seven years the Tories have presided over the slowest economic recovery since the 1920s. They have missed every debt and deficit target they have set themselves. Theresa May has continued with David Cameron and George Osborne’s failed austerity agenda and has left Britain with a low-wage, low-investment and high-debt economy.
A Labour Government will stand up for the many not the few. We will establish a National Investment Bank and regional development banks to help unlock £500 billion of investment and lending, including from the private sector, to deliver the critical infrastructure and skills businesses need.
Labour is clear that we will always maintain the ability to invest in the things that make the economy more productive, while ending borrowing for current, day-to-day, spending.
Membership Services and Correspondence
The Labour Party
Dear Jeremy Corbyn,
Please will you kindly tell me if Labour will pledge to hold the bankers who caused the crash to account & end the fractional reserve banking system putting money creation back in to public hands?
Dear Theresa May,
Please will you kindly tell me what good reason is there for not reintroducing the Bradbury pound if the only times in history when the public & not private bankers have prospered is when money was created by the state?
Dear Mr Mortimer
Thank you for your email of 27 May addressed to the Governor, which has been passed to me for reply. As I am sure you are aware, the government fund their spending needs by taxing and borrowing from the public. The government borrows money by selling government debt, in the form of gilts, which are issued by the Debt Management Office (DMO). In answer to your question, it is illegal to create money to fund a gap between Government revenue and expenditure and would be in contravention of article 123 of the Treaty on the Functioning of the European Union. For further information please see the link below: http://www.lisbon-treaty.org/wcm/the-lisbon-treaty/treaty-on-the-functioning-of-the-european-union-and-comments/part-3-union-policies-and-internal-actions/title-viii-economic-and-monetary-policy/chapter-1-economic-policy/391-article-123.html.
In addition, the idea of printing money could undermine faith in the fiscal and monetary framework. Printing money would cause inflation which cannot easily be reversed if it became too high. Excessive inflation is not good for the economy as it effectively reduces the value of money. More money is needed to purchase goods and services. People on fixed incomes such as those that are retired would see a decline in their purchasing power and generally consumers and businesses would also be less likely to spend due to the uncertainty. This would impact economic output and in turn economic growth. Also if the inflation rate is high in comparison to other countries, domestic products become less competitive as goods and services will cost more in comparison to elsewhere. I hope the above information answers your question. Thank you once again for writing to the Bank of England.
The Tories are complicit with bank fraud 24th February 2016
Justin Walker - British Constitution Group Conference - The Bradbury Pound 15th March 2015
Steve Baker MP at the historic debate in UK Parliament on Money Creation 21st November 2014
The Bank of England explains how commercial banks create money out of thin air 26th April 2014
Bring Back The Bradbury! 7th May 2013
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