Early day motion 408

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PUBLIC CREDIT FOR PUBLIC PURPOSES

That this House, knowing that enormous sums of money are necessary to improve public services, build a better infrastructure and provide for the well-being of the people, and recognising that further huge additional expenditure will now be necessary to combat global warming, reduce carbon emissions and make public buildings, housing and transport carbon neutral, points out that there is no prospect of raising such huge but necessary sums through normal channels of taxation and borrowing; therefore suggests that the time has come to supplement these by using the power of public credit to increase the amount of publicly-funded money, particularly since this has fallen from 20 per cent. of the money supply in 1964 to 3 per cent. today because the banks have largely taken the issue of credit and taken the seigneurage arising from credit creation for themselves; and calls on the Government to use the power of public credit for public purposes, particularly for the huge expenditure necessary to finance the development of carbon neutrality in a good society.

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Total number of signatures: 19

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Showing 19 out of 19

Name Party Constituency Date Signed
Campbell, Ronnie Labour Party Blyth Valley 06.12.2006
Clark, Katy Labour Party North Ayrshire and Arran 12.12.2006
Cohen, Harry Labour Party Leyton and Wanstead 12.12.2006
Corbyn, Jeremy Labour Party Islington North 12.12.2006
Cryer, Ann Labour Party Keighley 06.12.2006
Davies, Dai INDEPENDENT Blaenau Gwent 13.12.2006
Drew, David Labour Party Stroud 07.12.2006
Etherington, Bill Labour Party Sunderland North 11.12.2006
Gibson, Ian Labour Party Norwich North 19.03.2007
Hopkins, Kelvin Labour Party Luton North 07.12.2006
Jenkins, Brian Labour Party Tamworth 07.12.2006
Llwyd, Elfyn Plaid Cymru Meirionnydd Nant Conwy 13.12.2006
McDonnell, John Labour Party Hayes and Harlington 11.12.2006
Meale, Alan Labour Party Mansfield 06.12.2006
Mitchell, Austin Labour Party Great Grimsby 05.12.2006
Moon, Madeleine Labour Party Bridgend 07.12.2006
Riordan, Linda Labour Party Halifax 06.12.2006
Simpson, Alan Labour Party Nottingham South 13.12.2006
Taylor, David Labour Party North West Leicestershire 06.12.2006