Interest Rate Cuts And Economic Recovery

EDM number 799 in 1992-93, proposed by Alex Salmond on 11/11/1992.

That this House, while recognising the urgent need for a substantial further cut in interest rates, believes that on its own that will not be sufficient to revive the economy and must be accompanied by a substantial programme of new spending on infrastructure projects; asserts that, since higher home ownership and larger mortgages mean that interest rate reductions will bring most benefit to consumer spending in the South East of England, new infrastructure spending must be spread throughout the United Kingdom, including much-needed improvements to Scotland's transport links and public housing stock, and not concentrated in and around London; and warns Her Majesty's Government against embarking on a dash for votes in the South East instead of a dash for growth throughout the United Kingdom.

This motion has been signed by a total of 7 MPs.