Interest Free Money

EDM number 743 in 2004-05, proposed by Austin Mitchell on 22/02/2005.

That this House believes that for public and social infrastructure developments interest-bearing debt is unsatisfactory, burdensome and inadequate; notes that borrowing is not the only available method of financing; and therefore calls on the Government to grant the Bank of England, within that institution's inflation targets, the power to generate sufficient interest-free credit, and to allocate it to a national credit agency for disbursal for such local and national public and social infrastructure development projects as this House shall from time to time determine.

This motion has been signed by a total of 22 MPs.