STATUS OF THE HALIFAX BUILDING SOCIETY

Early day motion 1033, tabled 10 March 2009 by Lord Mann (Labour). Signed by 34 members.

That this House notes that the Halifax building society has a long, stable history, and that for nearly 150 years it was a safe place for investments and a dependable mortgage broker, set up for the mutual benefit of its members; further notes that using the Building Societies Act 1986 the Halifax demutualised 12 years ago; further notes that it combined with the Bank of Scotland in 2001 and that it is now part of the troubled Lloyds Banking Group; and calls on the Halifax to be remutualised for the benefit of savers and mortgage holders.

Signatures by party: Labour 27, Liberal Democrat 4, Independent 1, Plaid Cymru 1, Scottish National Party 1.