Northern Rock Foundation

EDM number 1952 in 2010-12, proposed by Ian Mearns on 20/06/2011.
Categorised under the topics of Financial institutions and Voluntary organisations.

That this House fully recognises the widespread popularity of and respect for the work of the Northern Rock Foundation, which once received 5 per cent. but has used 1 per cent. of pre-tax profits from Northern Rock Plc in recent years to disburse millions to deserving causes in the North East and Cumbria; notes that the Foundation has made over 3,700 grants and supported nearly 2,000 different organisations over the last 13 years; further notes that an independent study by the Centre for Effective Philanthropy shows the Foundation is viewed as exemplary; deeply regrets that Ministers have so far failed to make retention of the Foundation a condition of the sale of Northern Rock but have taken refuge in the vague aspiration that bidders may keep the Foundation beyond December 2012; and urges Ministers to toughen their stance so that the Foundation can continue to play a pivotal role in the Big Society in the North East and Cumbria.

This motion has been signed by a total of 41 MPs.