Early day motion 390

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PUBLICLY-CREATED MONEY

That this House is concerned at the growing difficulties of maintaining the higher levels of public spending on pensions, health, education and all the other public purposes an advanced society requires by taxation and public borrowing; notes that the proportion of publicly-created money in circulation has fallen from 20 per cent. of the money supply in 1964 to three per cent. today; believes that increasing the proportion of publicly-created money can provide a new means of financing public services; further notes that the use of publicly-created money can substantially cut the cost of public investment by eliminating the need to pay interest; considers that such a policy of using the public credit to finance public purposes can be adopted without any impact on inflation if suitable regulatory changes are made; and therefore urges the Treasury and the Treasury Select Committee to commission independent reviews on how to increase the proportion of publicly-created money in the economy and on the benefits of doing so and report them to this House.

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Total number of signatures: 13

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Showing 13 out of 13

Name Party Constituency Date Signed
Cook, Frank Labour Party Stockton North 23.06.2005
Cryer, Ann Labour Party Keighley 04.07.2005
Drew, David Labour Party Stroud 27.06.2005
Etherington, Bill Labour Party Sunderland North 14.07.2005
Hancock, Mike Liberal Democrats Portsmouth South 27.06.2005
Marshall-Andrews, Robert Labour Party Medway 10.10.2005
McDonnell, John Labour Party Hayes and Harlington 04.07.2005
Mitchell, Austin Labour Party Great Grimsby 22.06.2005
Owen, Albert Labour Party Ynys Môn 15.11.2005
Russell, Bob Liberal Democrats Colchester 27.06.2005
Simpson, Alan Labour Party Nottingham South 10.10.2005
Taylor, David Labour Party North West Leicestershire 23.06.2005
Walley, Joan Labour Party Stoke-on-Trent North 10.10.2005