UK parliament to debate money creation for first time in 170 years

UK Parliament will hold a three hour debate on the issue of ‘Money Creation and Society’ on Thursday 20th November. This will be the first time in 170 years that Parliament has debated money creation.

[yellow_box box_size=”602″] Approximate expected start of the “Money Creation & Society” debate is around 12:30PM. [/yellow_box]

The Money Creation and Society debate is being hosted by Steve Baker (Conservative), Caroline Lucas (Green), Michael Meacher (Labour), Douglas Carswell (UKIP), and David Davis (Conservative).

The backbench debate in the Main Chamber of Parliament creates an opportunity for MPs from all parties to learn about the issue, ask questions and deepen their understanding. As the results of our recent poll show, most MPs lack a sufficient understanding of money creation, leaving them ill-equipped to legislate on important policy.

We have produced a full briefing for the money creation debate that you can see here.

There are lots of important questions that Parliament should address during the three hours in the Main Chamber, these include:

Who should create money? Should high-street banks have the effective right to create money every time they make a loan, given the recent consequences for the economy? How should newly created money be used? Do we want banks to have the power to create money when this leads to unaffordable housing and financial instability? Should we have allowed the Bank of England to create £375bn with little scrutiny from parliament, and use this money to inflate financial markets? Were there better uses of this money?

We only have less than two weeks to ensure that Members of Parliament attend the debate – and also understand the basic facts about money!

We need your help:

1) Invite your MP to the historic debate on money creation

You can help make politicians aware of the issue of money creation by banks and all its negative impacts on society. You can do this in just 2 minutes using the link below:

Email your MP. You can use our email template to ask them for their commitment to be there.

Phone your MP. This is the quickest way to let them know the debate has been announced and find out if they are planning to go.

You can simply phone the House of Commons switchboard on 020 7219 3000 and ask for your MP by name. You will be able to leave them a message or speak to a member of their staff.

Remember to be polite, your message is much more likely to make it to your MP if you stick to the point and put your case across clearly.

Tweet your MP. Include the hashtag #sovereignmoney in your message so we can follow your conversation.

You can find your MP’s twitter handle here

Remember to include their handle in your tweet. Here is an example tweet:

Historic backbench debate ‘Money Creation and Society’ > http://ow.ly/DRxpd > @yourmpshandle will you be there? #sovereignmoney

2) Tell your friends, family and colleagues

We only have two weeks to go and we need as much support as possible. Share our campaign with your contacts. Forward this email, or share this

3) Watch the debate LIVE on Live Parliament TV. On Thursday 20th November you can watch the debate live online here

[yellow_box box_size=”602″] Approximate expected start of the “Money Creation & Society” debate is around 12:30PM. [/yellow_box]

Thank you to the 2,700 of you who emailed your MP and got them interested in money creation! It’s thanks to your efforts that we have sufficient number of MPs interested in this debate.

Backbench Briefing Money Creation Debate