Petition · HM Treasury
Review the Bank of England's remit to separate supply and demand inflation
Open for signatures
15 signatures
What the petition asks
We call on the Government to update the Bank of England's monetary policy remit to require the MPC to distinguish between demand-pull and supply-push inflation, and permit base rate cuts even when headline inflation exceeds target, if the cause is primarily supply-side.
The Bank of England's current remit requires it to target a CPI inflation rate of 2%, with interest rate policy used as the primary tool to achieve this. This framework was designed for an era of predominantly stable, demand-driven inflation. It does not adequately account for inflation driven by supply-side shocks — such as energy price spikes, global supply chain disruption, or geopolitical events — which cannot be meaningfully resolved by raising the cost of borrowing.
Timeline
| 7 May 2026 | Petition opened for signatures |
Key facts
Signatures
15
Status
Open for signatures
Department
HM Treasury
Opened
7 May 2026
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Source: the official petition page. Last checked 26 Jul 2026.