Early day motion 2075

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That this House notes that commercial banks have arrogated to themselves the right to create almost the entire UK money supply out of nothing in the form of a debt to them whenever they issue loans to the nation's firms, households and government; takes into account that, as a result, 97 per cent. of the broad pound sterling money supply now consists of electronic bank credit recorded as liabilities of commercial banks; further notes too that the bank-driven expansion of the broad money supply from 802 billion in 2000 to 1,682 billion in 2007 fuelled the over-indebtedness and house price bubble that caused the global financial crisis; and calls on the Government to enable the Bank of England to reclaim the exclusive right to create pound sterling money in such a way that would promote economic growth and stability and prevent further crises.

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Total number of signatures: 25

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Showing 25 out of 25

Name Party Constituency Date Signed
Burden, Richard Labour Party Birmingham Northfield 19.07.2011
Campbell, Ronnie Labour Party Blyth Valley 13.07.2011
Caton, Martin Labour Party Gower 13.07.2011
Connarty, Michael Labour Party Linlithgow and East Falkirk 12.07.2011
Corbyn, Jeremy Labour Party Islington North 13.07.2011
Crausby, David Labour Party Bolton North East 18.07.2011
Cryer, John Labour Party Leyton and Wanstead 12.07.2011
Dobbin, Jim Labour Party Heywood and Middleton 13.07.2011
Durkan, Mark Social Democratic and Labour Party Foyle 12.07.2011
Edwards, Jonathan Plaid Cymru Carmarthen East and Dinefwr 13.07.2011
Field, Frank Labour Party Birkenhead 12.07.2011
Flynn, Paul Labour Party Newport West 20.07.2011
George, Andrew Liberal Democrats St Ives 18.07.2011
Hamilton, Fabian Labour Party Leeds North East 12.07.2011
Havard, Dai Labour Party Merthyr Tydfil and Rhymney 12.07.2011
Heyes, David Labour Party Ashton under Lyne 18.07.2011
Hopkins, Kelvin Labour Party Luton North 13.07.2011
McDonnell, John Labour Party Hayes and Harlington 13.07.2011
Meacher, Michael Labour Party Oldham West and Royton 12.07.2011
Meale, Alan Labour Party Mansfield 13.07.2011
Mitchell, Austin Labour Party Great Grimsby 12.07.2011
Ritchie, Margaret Social Democratic and Labour Party South Down 19.07.2011
Rotheram, Steve Labour Party Liverpool Walton 13.07.2011
Roy, Lindsay Labour Party Glenrothes 11.08.2011
Williams, Hywel Plaid Cymru Arfon 14.07.2011