BUILDING SOCIETIES AND FINANCIAL EXCLUSION

Early day motion 1434, tabled 13 June 2002 by Meg Munn (Labour/Co-operative). Signed by 49 members.

That this House welcomes the publication of the Cambridge Centre for Housing and Planning Research's Report entitled, Partnerships for Financial Inclusion, which highlights the roles of building societies and housing associations can play in tackling financial exclusion for tenants; notes that one third of households in the UK currently do not have access to mainstream forms of credit and 1.5 million households use no financial products; further notes that building societies' mutual status means that they do not need to focus on shareholder return, so that they can get involved in projects proprietary companies cannot; and calls upon the Government to extend the powers of the Housing Corporation to allow it to provide start up funding for financial inclusion and community regeneration projects.

Signatures by party: Labour 33, Labour/Co-operative 9, Liberal Democrat 5, Plaid Cymru 1, UUP 1.