January 21

Home Up

DEBT or CREDIT?

Taxing or Borrowing?
There are ‘Other Ways’ to Creating Money than Interest

 

Jan 21st:             Debt on Our Doorstep

Early Day Motions for Economic Democracy?

Austin Mitchell MP has been a long standing campaigner for a monetary policy that helps people rather than banks.

On June 26th 2002 he tabled Early Day Motion 1515 entitled Using the Public Credit which was signed by 24 MPs. 

Tonight we will be joined by Niall Cooper, the National Coordinator of the Church Action on Poverty programme in Manchester http://www.church-poverty.org.uk/ who raises awareness amongst MPs with EDM 257 entitled Low Income Debtors and Poverty, tabled by John Battle MP and signed by 114 MPs.

EDM 257 is the ‘other side’ of EDM 1515 and says: That this House notes

§         the extent of debt amongst those on a low income with over three million people entering into debt on their doorstep through extortionate lending;

§          believes tackling debt and financial exclusion must be given priority in the Government's anti-poverty strategy;

§         and calls for coordination of the current fragmentary approach setting departmental policies and actions within complementary strategies to tackle financial exclusion and eradicate poverty,

§         focusing on reforming the Social Fund, tackling extortionate lending and promoting affordable credit through credit unions.

We will hear about Debt on our Doorstep www.debt-on-our-doorstep.com an alliance of activists and organisations who have come together to relieve the burden of debt, and to promote solutions to financial exclusion.  Among the campaigning areas are:

§         to promote credit unions and other community finance initiatives

§         to promote socially responsible service provision by high street banks

§         to campaign for methods of debt recovery to become more equitable, just and effective by ensuring that adequate protection is available to people unable to repay their debts.