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PUBLIC CREDIT FOR PUBLIC PURPOSES

EDM (Early Day Motion) 408: tabled on 05 December 2006

Tabled in the 2006-07 session.

This motion has been signed by 19 Members. It has not yet had any amendments submitted.

As this motion is using historical data, we may not have the record of the original ordering, in which case signatories are listed alphabetically.

Motion text

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.

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There are no withdrawn signatures for this motion.