Cancel BoE‘s cash injection to the financial sector, replace it with People's QE

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Cancel BoE‘s cash injection to the financial sector, replace it with People's QE

Petition Details

The Bank of England’s planned cash injection to financial services will inflate asset prices, discourage saving and increase inequality. Government should instruct the Bank to implement a programme of People's Quantitative Easing instead to stimulate private spending and reduce UK household debt.

Additional Information

Economists internationally have criticised the Bank’s decision, as it fails to address the greater risk to our economy: businesses and households cutting spending in the wake of increasing economic uncertainty. The BoE’s £375 billion programme of QE has damaged the UK economy since 2009 by inflating asset prices. These policies discourage saving and make it difficult for ordinary people to live, further increasing inequality and resulting suffering and anger that is corrosive to our society.

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