Early Day Motions on the Economy
Below are a number of Early Day Motions (EDMs) that
I have signed to express my views about what should be done about the financial crisis,
the recession and the economy.
EDM 1151:
PUT PEOPLE FIRST ALLIANCE
23.03.2009
That this House believes that
in light of the global economic crisis and in the context of the forthcoming G20 talks it
is vital that the focus of the UK Government is on creating a new, improved economic model
rather than simply business as usual; therefore commends the Put People First Alliance
report and campaign, backed by over 100 development and climate charities,
non-governmental organisations and trades unions; and hopes that the Government will heed
its recommendations and support the following four principles laid out in the report, when
negotiating and acting on this matter, of ensuring democratic governance of the global
economy, creating and supporting decent jobs and public services, ending global poverty
and inequality and building a green economy.
EDM 987: BUSINESS REGULATION DURING A
RECESSION
04.03.2009
That this House notes with concern the high cost to small
businesses of additional business regulation in the current economic climate; further
notes that nearly 30 per cent. of members of the Federation of Small Businesses cite
increasing amounts of regulation as a barrier to expansion; believes that the Government's
priority as unemployment approaches two million should be to keep people in employment and
make it easier for small businesses to retain staff and grow; and calls on the Government
to review the impact of all business regulations due to come into force in April 2009 and
delay the introduction of those that will impose additional costs or administrative
burdens until the economy shows real signs of recovery.
EDM 982: BONUSES FOR LOW PAID WORKERS
04.03.2009
That this House believes that
any review the Government initiates, or asks other bodies to initiate, of the bonus system
in banking and financial services should be given terms of reference which take account of
how important the bonus system is to lower paid workers.
EDM 984: TAX AND PENSIONERS
04.03.2009
That this House believes that
the taxation of workers' pensions continues to act as a deterrent to saving and
disadvantages those workers who have invested in pensions throughout their working life,
including members of the coal miners pension fund; further believes that as a fiscal
stimulant and a reward for saving, pensioners should be exempt from taxation for the first
£15,000 of income and that taxation levels for pensioners in excess of £50,000 a year
should be significantly increased, with those receiving a pension of over £700,000 a year
being taxed at 90 per cent., leaving a pensionable income of £70,000 which is more than
enough for any pensioner.
EDM 942:
THE PEOPLE'S CHARTER
02.03.2009
That this House welcomes The
People's Charter - a Charter for Change, which sets out a programme for challenging the
economic crisis and providing hope for a fairer society; notes that this programme
includes public ownership of the main banks, public utilities and transport and ending the
privatisation of public services, a progressive tax system, investment for full
employment, increasing the minimum wage, the restoration of the earnings link for state
pensions, an end to home repossessions, empowerment of local authorities to provide
affordable quality housing for all, the ending of child poverty, enforced equal pay for
women, the restoration of trades' union rights, halting new nuclear weapons and investment
for a greener and safer world free of poverty and famine; further notes that the Charter
is already supported by the general secretaries of some of Britain's biggest trades'
unions as well as numerous national trades' unions, campaigning organisations and
prominent people from all walks of life; further welcomes the Charter's declared ambition
of collecting one million signatures; and calls upon the Government to respond positively
to the demands of this campaign and begin putting people first before the interests of big
business and corporate finance.
EDM 920:
PUBS AND BANK LENDING PRACTICES
27.02.2009
That this House is deeply
concerned by reports from licensees and pub owners that they have been unable to access
credit and have been told by bank representatives that it is their policy not to offer
finance to pubs; is worried that pubs like many small businesses are often dependent on
such credit lifelines, particularly during such difficult economic times; is disappointed
that these banks do not appear to be adhering to requirements laid out by the Treasury
that funds made available to the banking sector would be dependent upon banks giving a
commitment to lend to small businesses; and believes that action should be taken to ensure
that banks extend credit to pubs, as they would other small businesses.
EDM 905:
SALARIES OF SENIOR EXECUTIVES OF INDUSTRY REGULATORS
26.02.2009
That this House notes with
concern the salaries being paid to senior executives of industry regulators; further notes
that Colette Bowe, the newly-appointed Chair of Ofcom, is being paid a salary of £200,000
for up to three days a week; recognises the important role industry regulators have to
play but at the same time realises that one of the primary roles of regulators is to curb
any excesses by private companies and therefore they should set an example in their own
salary structure; and therefore calls on the Government to review the wage structure for
senior executives of industry regulators.
EDM 780:
SHORT SELLING
11.02.2009
That this House expresses
major reservations at the recent decision by the Financial Services Authority to lift its
ban on short selling; notes that the lifting of the ban coincided with a dramatic fall in
the share prices of several major banks, including RBS, Lloyds and Barclays; expresses
concern that Lansdowne Partners was able to make a profit of £12 million on the short
selling of shares in Barclays, the share price of which fell by over 50 per cent. in the
week immediately following the end of the ban; further notes that other countries such as Australia
and Italy have maintained their ban on the practice; and urges the Financial Services
Authority to reverse its decision and reinstate the ban for the sake of financial
stability in the United Kingdom.
EDM 758:
BANK BONUS PAYMENTS
10.02.2009
That this House believes that
in the light of the fact that RBS will lose £8 billion this year and be forced to
write-off a further £20 billion because of the reckless takeover of ABN Amro, yet still
intends, despite being nearly 70 per cent. owned by the taxpayer, to pay £1 billion in
bonuses this year, decisions on bank bonuses should be taken far more expeditiously than
the year-long timespan accorded to the committee set up by the Treasury to investigate the
issue; further believes that independent and robust judgments will not be reached by a
committee composed of a chairman, Sir David Walker, and members who have themselves
received enormous bonuses in the past; further believes that a cap, whether at £25,000 or
any other level, does not meet the central requirement that there should be no
automaticity of bonuses and that employees should be paid the rate for the job without
bonuses, which can perversely incentivise reckless and harmful transactions; and calls on
the Government to introduce regulations speedily to ban the payment of bonuses and where
the state holds a significant proportion of the equity, to recover past bonus payments
even where the company or relevant division of the company made a substantial loss.
EDM 744:
EMPLOYMENT TRAINING
09.02.2009
That this House notes with
concern the delay in accessing training schemes for those who are unemployed; recognises
that at a time of economic downturn, with rising unemployment rates, many people need to
access training courses in order to gain new skills to find employment; further notes with
concern that those who are currently losing their jobs can face a delay of up to six
months to access a training course; and calls on the Government to take immediate action
to speed up the process for those wishing to access training courses in order to help
people retrain and return to work as soon as possible.
EDM 682:
SHORT-TIME WORKING AND MANUFACTURING INDUSTRY
03.02.2009
That this House recognises
the importance of a highly-skilled workforce to the future of the UK economy; further
recognises that manufacturing in the UK needs to retain its skilled workers in order to
exploit the opportunities on offer when economic growth returns; understands that many
skilled workers in manufacturing are being asked to work short-time and that this could
put severe pressure on their finances; further recognises that for many skilled workers
the only option may be to leave manufacturing and seek full-time employment elsewhere;
calls on the UK Government to look at all options for helping manufacturers retain skilled
workers in the current climate, including possible adjustments to the tax credit system;
and demands that manufacturers continue to invest in the training budget and skills of
their workforce in anticipation of potential growth of the UK's manufacturing base in the
future.
