13th Nov 2018

The Bank of England is looking for your support to help raise awareness of a major new initiative being is launching in the North East. Supported by the Community Foundation Tyne & Wear and Northumberland, a Citizen's Panel will be establish, allowing Bank of England to listen to voices from across society when it makes decisions that affect people in the United Kingdom.

The role of the Bank

Bank of England is responsible for maintaining monetary and financial stability across the United Kingdom.

That means managing inflation – the rate at which prices rise – and making sure that the financial system functions properly.

It's duties include setting interest rates and regulating banks, building societies and insurance companies. We also issue bank notes and run the system that allows electronic payments to take place.

Citizens’ panels

Bank of England is setting up citizens’ panels across the UK so they can listen directly to the public. They want to hear what people have to say about issues such as jobs, pay and the cost of living.

They also want to know about people’s experiences of things such as the housing market and how easy people find it to borrow and save money. Other topics for discussion might include money itself – from the design of bank notes, to what might replace cash in future.

Why get involved?

Participants will be able to put their views directly to the people who make decisions that affect everyone in the UK.

How it will work

Bank of England is trialing the panels in the North East before rolling them out across the country in 2019. It will hold its first meeting in Newcastle on 12 December 2018 and will hold future meetings around the North East. They expect the panel to convene twice a year.

The panel on 12 December will start at 6pm and finish by 9pm. Bank of England will cover travel expenses for those taking part and provide refreshments.

How to apply

Anyone over the age of 18 who lives in the North East can apply to join the panel. And you don’t need to be an expert on the economy!

To apply, fill in the form at
www.bankofengland.co.uk/outreach/citizens-panels or call Bank of England on 0191 250 5168.

The closing date for applications is 17 November 2018.

How participants will be chosen

Bank of England want its panels to be representative, so are inviting anyone who is interested to apply. Then people from a range of backgrounds will be selected to join. Those unable to make the event on 12 December are still free to register their interest in joining future panels.

The Community Foundation is helping with the recruitment of panel members.

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