BAD BANK SOLUTION

Early day motion 415, tabled 12 January 2009 by Andrew Pelling (Independent). Signed by 5 members.

That this House calls on the Government to purchase bad debts off the balance sheets of UK banks at market value so as to encourage confidence for new lending as recommended by the Organisation for Economic Co-operation and Development; and records that if necessary such a cleansing of bank balance sheets be undertaken by the purchase by the Government of long-term bank debt, or if necessary, by the nationalisation of the remaining equity of some leading banks.

Signatures by party: Labour 2, Independent 1, Liberal Democrat 1, Scottish National Party 1.