Early day motion 327

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USE OF PUBLIC CREDIT FOR PUBLIC WORKS

  • Session: 2004-05
  • Date tabled: 07.12.2004
  • Primary sponsor: Mitchell, Austin
  • Sponsors:

    That this House is concerned by the conclusion of the report by the Association of Chartered Certified Accountants (ACCA) that private finance initiative is an expensive way of financing and delivering public services; urges the Treasury to commission an independent review of the benefits of using public credit and increasing the proportion of publicly created money as alternative means of financing public works; notes that the case for using public credit in this way is strengthened by the fact that, as measured by the proportion of publicly created money in circulation, public credit fell from 20 per cent. of the money supply in 1964 to 3 per cent. today; suggests, therefore, that an increase in the proportion of publicly created money should be used to cut the costs of public investment and to boost the total amount of public spending without borrowing or taxation; considers that this can be done without any impact on inflation; and therefore urges the Chancellor to develop and use public credit rather than accumulating even more debt or enriching the private finance initiative and public private partnership contractors who are making vast profits from the Government's desire to provide alternatives to borrowing, even though this one is more expensive in the end.

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Total number of signatures: 28

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Showing 28 out of 28

Name Party Constituency Date Signed
Barnes, Harry Labour Party North East Derbyshire 08.12.2004
Barrett, John Liberal Democrats Edinburgh West 10.01.2005
Caton, Martin Labour Party Gower 08.12.2004
Cryer, Ann Labour Party Keighley 08.12.2004
Dean, Janet Labour Party Burton 13.12.2004
Drew, David Labour Party Stroud 09.12.2004
Etherington, Bill Labour Party Sunderland North 18.01.2005
Gerrard, Neil Labour Party Walthamstow 14.12.2004
Hancock, Mike Liberal Democrats Portsmouth South 08.12.2004
Holmes, Paul Liberal Democrats Chesterfield 09.12.2004
Hopkins, Kelvin Labour Party Luton North 13.12.2004
Jones, Lynne Labour Party Birmingham Selly Oak 14.12.2004
Jones, Nigel Liberal Democrats Cheltenham 15.12.2004
Lewis, Terry Labour Party Worsley 15.12.2004
McDonnell, John Labour Party Hayes and Harlington 13.12.2004
McNamara, Kevin Labour Party Kingston upon Hull North 09.12.2004
Mitchell, Austin Labour Party Great Grimsby 07.12.2004
Price, Adam Plaid Cymru Carmarthen East and Dinefwr 13.12.2004
Pugh, John Liberal Democrats Southport 21.12.2004
Russell, Bob Liberal Democrats Colchester 07.12.2004
Simpson, Alan Labour Party Nottingham South 13.12.2004
Smyth, Martin Ulster Unionist Party Belfast South 08.12.2004
Taylor, David Labour Party North West Leicestershire 09.12.2004
Taylor, Richard INDEPENDENT Wyre Forest 13.01.2005
Thomas, Simon Plaid Cymru Ceredigion 17.01.2005
Tyler, Paul Liberal Democrats North Cornwall 09.12.2004
Vis, Rudi Labour Party Finchley and Golders Green 13.12.2004
White, Brian Labour Party North East Milton Keynes 18.01.2005