Early day motion tabled by primary sponsor Andrew Love (Labour and Co-operative Party), on Monday, 16 July 2007, in the House of Commons. It is signed by 93 members in total.

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REFORM AND EXPANSION OF CO-OPERATIVES AND CREDIT UNIONS

That this House welcomes the recent announcement of a review of the UK's Industrial and Provident Society and Credit Union legislation by HM Treasury; notes the positive impact that co-operative and credit union legislation has had on the British economy since its inception in 1852; recognises the need for reform in this area; further notes that credit unions provide valuable services to communities, including safe and easy savings schemes, affordable loans and financial education; calls upon the Government to note that the capacity of credit unions to expand their provision of inclusive financial services is seriously impaired by existing barriers; and looks forward to constructive proposals for a new legal framework which will allow credit unions and co-operatives to compete and expand whilst recognising the need for modernisation to enable the co-operative sector to continue to lead the way in community regeneration, engagement and participation.

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Secondary information

Type

Early day motion

Reference

1920 

Session

2006-07

Other sponsors

Alun Michael

Doug Naysmith

Ian Davidson

Andy Reed

David Leslie Taylor

Subjects

Credit unions Cooperatives

Link

View this Early day motion on www.parliament.uk