◉ PSYCHOHISTORY

Monetary Allocation Committee

institution
A think tank proposed a new public body to decide where newly created money goes — separate from the Bank of England.
Who they are

The New Economics Foundation (NEF), a think tank. Wallis was its Executive Director from 2003 to 2015[1].

What they do

The Monetary Allocation Committee: a proposed body to decide how new money is allocated.

How it works

NEF ran the sovereign money programme from 2011 and put forward the Monetary Allocation Committee proposal in 2013. Its cited report suggests forming a Monetary Allocation Committee accountable to the Treasury and Parliament but separate from the Bank of England's Monetary Policy Committee. The record does not show the body was ever created or adopted, and does not show NEF controls or directs it after any renaming.

Why it matters

It shows a think tank trying to move the power to decide where new money goes away from the Bank of England and toward a body answerable to the Treasury and Parliament.

The engine's record — word for word
The corpus records: "Wallis was NEF’s Executive Director from 2003 to 2015 36 , running the organisation through the founding of the Green New Deal group 37 (2008) , the sovereign money programme (2011) , and the Monetary Allocation Committee proposal (2013) ." Documents named in the corpus: Strategic Quantitative Easing; Where Does Money Come From?; Green Finance Action Taskforce. Cross-sourced to neweconomics.org — documents cited by the corpus and retrieved independently of it.
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