MUTUALISATION AND THE BANKING SECTOR

Early day motion 2233, tabled 4 November 2009 by Malcolm Wicks (Labour). Signed by 97 members.

That this House regrets the disappearance of so many building societies through the demutualisations that occurred in the 1980s and 1990s; notes that not one of these institutions has survived as an independent British bank; applauds the ethic that underlies the principle of mutuality; and urges the Government, as part of the restructuring of the banking sector, to enable and encourage the remutualisation of a significant part of it, including the conventional banking side of Northern Rock.

Signatures by party: Labour 78, Liberal Democrat 10, Conservative 4, Scottish National Party 2, DUP 1, Respect 1, Social Democratic and Labour Party 1.