Regional and National Accountability of the Bank of England

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Regional and National Accountability of the Bank of England

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By definition the people of the UK are the guarantors of their own currency the British Pound (GBP) with their (and their children’s) future tax revenues, hard work, savings, investments and natural resources as collateral.

The Bank of England (BofE) already has twelve Agencies based around the UK: Scotland, Wales, NI and 9 regions of England: “Their (the BofE Agencies) primary role is to assess economic conditions affecting businesses in their area.” As defined on the Bank of England website.

The UK government needs to enable and instruct the Bank of England, the UK’s central bank, to also become accountable to the democratic authorities within each Bank of England Agency area and to reflect this much needed modernisation by changing the text on new British Pound bank notes, whenever they are next due to be issued, from “LONDON FOR THE GOVERNOR AND COMPANY OF THE BANK OF ENGLAND” to “ISSUED IN GOOD FAITH FOR THE PEOPLE OF THE UK”.

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