Privatisation Of National Savings

EDM number 665 in 1993-94, proposed by Audrey Wise on 23/02/1994.

That this House disapproves of any moves towards the privatisation of National Savings or parts of it, whether disguised as market testing or otherwise; recognises that National Savings attracts many savers because of its reliability and integrity which could be damaged by privatisation, that it is a successful organisation currently attracting ú45 billion in savings, that it is efficient, and already operates in competition with the private sector so that even fervent advocates of the market approach to everything have no excuse for destabilising National Savings; notes that National Savings employs 5, 800 people, 1,572 in Blackpool, 1,579 in Durham, 2,342 in Glasgow, and the remainder in London, and it is they who will bear the brunt of de-stabilisation and threat to employment; and therefore calls for no moves to be made towards any privatisation of National Savings.

This motion has been signed by a total of 52 MPs.