House of Commons
As this motion is using historical data, we may not have the record of the original ordering, in which case signatories are listed alphabetically.
USE OF PUBLIC CREDIT FOR PUBLIC WORKS
EDM #327
Tabled 07 December 2004
2004-05 Session
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.

Signatures (28)

The first 6 Members who have signed to support the motion are the sponsors. The primary sponsor is generally the person who tabled the motion and has responsibility for it. The date shown is when the Member signed the motion.
In addition to the sponsors, the following Members have signed to support the motion.
There are no withdrawn signatures for this Motion